Source: ForexYard
The euro largely held onto gains from yesterday during the overnight session, as investors eagerly await a batch of US news today. Crude oil also largely remained bullish last night and is currently trading just above the $84.00 a barrel level.
Main News for Today
US FOMC Statement 16:30 GMT
US FOMC Economic Projections 18:00 GMT
US FOMC Press Conference 18:15 GMT
• Investors will be closely watching all three of these events for clues as to whether the Fed will initiate a new round of quantitative easing in the near future
• It is also widely expected that the Fed will extend its bond-buying program in order to stimulate growth in the US economy
• Any mention of a new round of quantitative easing is likely to lead to gains for riskier currencies
• If the Fed chooses not to extend its bond-buying program, the dollar could see gains during the evening session
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