03 May 2017
the FOMC (Federal Open Market Committee) holds eight regularly scheduled meetings during the year and announces US Federal Reserve’s decision on interest rates. The next Fed interest rate decision announcement is scheduled on this Wednesday, on May 3, at 6 p.m. GMT and is likely to cause high volatility on market.
Leading FreshForex analyst Catherine Main has commented on rate hike possibility as follows:
“Chicago futures market estimates the probability of a rate hike by 6%. Fed leaders will again insist on possibility of new rate hike on this meeting in case of strong labor market and inflation statistics. As traders do not anticipate a new rate hike today, we may count on increase in EUR/USD, GBP/USD quotes and decrease in USD/TRY quotes.“
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