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Fed delivered what everyone expected

Fed delivered what everyone expected | 23 March 2023

23 March 2023, EUR/USD

Fed delivered what everyone expected

EURUSD trading plan:

The Federal Reserve on Wednesday raised interest rates by a quarter of a percentage point, but indicated it was on the verge of pausing further increases in borrowing costs amid recent turmoil in financial markets spurred by the collapse of two U.S. banks. The move set the U.S. central bank's benchmark overnight interest rate in the 4.75%-5.00% range, with updated projections showing 10 of 18 Fed policymakers still expect rates to rise another quarter of a percentage point by the end of this year, the same endpoint seen in the December projections. It is a nice positive move and that is pretty much because the Fed delivered what everyone expected which was a quarter-point, that was the odds-on favorite from just about everybody.

Investment idea: buy 1.0870 and take profit 1.0950.

David Johnson
Analyst of «FreshForex» company
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