Forex Trading Outlook: From now until tomorrow’s FOMC minutes release, we expect the markets to continue range bound and sluggish. Unless the changes are dramatic the markets should stay uneventful until the first week of August when the markets start to stir as a new month begins and the northern hemisphere summer season winds down.
Upcoming high alert events.
Fed Interest Rate Decision: July 29, 14:00 EST
The Board of Governors of the Federal Reserve to announce their interest rate decision. The influence of this decision affects the whole range of interest rates set by commercial banks, building societies and other institutions for their own savers and borrowers. Their decision tends to affect the value of the USD which influences Forex market trading. Generally speaking, if the Fed decides to raise he interest rates, then the result is bullish for the USD.
Fed’s Monetary Policy Statement: July 29, 14:00 EST
After the Fed announces the Rate Decision, the FOMC releases its statement about monetary policy. The statement may iimpact the volatility of USD and result in a short-term positive or negative trend. A hawkish view usually results in a bullish reaction for the USD, on the other hand a dovish view is considered bearish.
Upcoming calendar of economic events for the week ahead that influence our Trading Outlook.