Financial markets closing today to FOMC statement & economic projection with eyes heading toward Fed Rate decision as uncertainty overshadow markets where some banks heading to expect the ability for rate hike today after Fed hold more than expected.
While most reading still showing the Fed will hold for this meeting where only 20% odds showing Rate Hike as we see one this paragraph:
The other thing that we should pay attention to and as we advised on previous articles that Fed Chairwoman (Janet Yellen) announced earlier this year that any Rate Hike should be preceded by preparing markets for it, and this lead us that any intentions to rise rate should be preceded by officials talk and hints to avoid any market shock that may affect (currency, equity & bond markets) which is obvious that Fed is trying to avoid as global central banks from Japan to Europe still trying to inject more quantitative easing and reducing interest rate.
And so, the most probability for today is holding Dollar rate with no hike while Fed will have another tow meeting this year to decide.
Economist still seeing the best chance for Dollar Rate Hike this year will be at December meeting with more than 50% odds, as November meeting is off the table with USA election on the stage.
After the Fed decision eyes will head toward FOMC economic projection and statement while Janet Yellen press conference may give more clues for the coming rate hike as she still avoiding any announcement for such schedule.
For technical analysis and dollar movement expectation plz click here.