Today is FED interest rate decision. Be ready!
This article is originally referred from Fortrade News.
US Federal Reserve monetary policy makers will return back into the spotlight this week as they are getting set to announce their latest interest rate decision.
The US Federal Open Market Committee (FOMC) is scheduled to meet on Tuesday and Wednesday (September 19- 20) at 18:00 GMT.
The US Fed continues to keep many investors in suspense, as they have not yet given a clear signal whether will increase interest rate once again by the end of the year.
The US Fed benchmark interest rate stands currently within the range of 1.00%- 1.25%, with more than a 50.00% chance that the range could go up to 1.25%- 1.50% in December.
Previous Federal reserve meeting was held on July 26, and Fed decided to kept interest rate on current level of 1,25%.
In following statement Federal Reserve said that it planned to start shrinking its balance sheet “relatively soon”. As reaction currency pair, EUR/USD rose 1.12%, while gold also was increased by 1.24%.
What’s next for EUR/USD?
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Original Source: Fortrade News