EUR/USD continues to oscillate above 1.0700 as investors prepare for Fed policy EURUSD Fed ECB SEO Inflation
elined ahead of the interest rate decision by the Federal Reserve . Therefore, the major currency pair is mimicking the pre-Fed policy period and is likely to continue its sideways performance.
S&P500 futures are adding further gains, carry forwarding the recovery performance on Monday as investors cheered liquidity assistance from various financial institutions to First Republic Bank after solvency issues. It seems that investors are showing maturity in efforts made for easing financial instability, portraying a recovery in the risk appetite theme.
The US Dollar Index is also demonstrating a lackluster performance around 103.30 as the street looks confused about the Federal Reserve’s monetary policy. The commentary has come from Futuristic carmaker Elon Musk that the Federal Reserve should cut interest rates by at least 50 basis points . The rationale behind the commentary could be an expected recession due to sheer policy tightening.still looks weak as the return offered looks solid at higher levels.
Apart from the interest rate policy, Federal Reserve chair Jerome Powell would also deliver the dot plot plan, a roadmap dictating further rate hikes to achieve price stability. The Federal Reserve is still sticking to its prior terminal rate projection of around 5.25%, therefore, no surprises are expected for the interest rate guidance.
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