FOMC is widely expected to maintain its policy settings | 28 April 2021

28 April 2021, EUR/USD

FOMC is widely expected to maintain its policy settings

EURUSD trading plan:

The U.S. central bank is widely expected to maintain its policy settings and Fed Chairman Jerome Powell is seen as likely to repeat his dovish message. The Fed has committed to continue its $120 billion a month of government bond purchases until “substantial further progress” is made in an economic recovery from the pandemic, but recent strong data has investors looking for any signs that the Fed may start talking about tapering the buying. The Federal Reserve said last year it aims to bring average inflation to around 2% and to allow it to overshoot above 2%, rather than trying to cap it around 2%. This is a negative signal for the dollar!

Investment idea: buy 1.2055 and take profit 1.2130.

David Johnson
Analyst of «FreshForex» company
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