Forex expects volatility ahead of Powell's statement — the dollar recovers
The USDJPY pair rose ahead of the Fed's decision, partially recovering losses incurred on Friday.
Investors are expecting not so much a rate hold as hints from Powell about a future rate cut.
A dovish tone could weaken the dollar, while a hawkish one could boost demand and trigger growth.
Markets are bracing for a surge in volatility regardless of the final message
The USDJPY pair rose ahead of the Fed's decision, partially recovering losses incurred on Friday.
Investors are expecting not so much a rate hold as hints from Powell about a future rate cut.
A dovish tone could weaken the dollar, while a hawkish one could boost demand and trigger growth.
Markets are bracing for a surge in volatility regardless of the final message
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📊 GBP remains near its three-year high
GBPUSD fell by 0.6% on Wednesday, continuing to consolidate ahead of the Bank of England's (BoE) meeting.
Possible effects for traders
The BoE is widely anticipated to lower interest rates by 25 basis points (bps) towards 4.25% on Thursday, marking its fourth consecutive rate cut. Monetary easing is anticipated due to mounting concerns over slowing economic growth because of U.S. President Donald Trump's trade tariffs. Investors will scrutinise the meeting—the first since the tariffs were introduced—for any changes in the bank's tone or economic projections. Additionally, U.K. inflation eased more than expected in March, dropping from 2.8% to 2.6%, supporting the case for the rate reduction.
'We take a slightly more cautious view', said Shaan Raithatha, senior economist at Vanguard. 'Though we acknowledge the inflation outlook is softening, there are some near-term risks', he added, before mentioning improving growth prospects, higher utility prices, and tentative evidence that the rise in national insurance contributions and a national living wage is 'starting to feed through to final prices'.
GBPUSD rose during the Asian and early European trading sessions. The BoE will announce its rate decision today at 11:00 a.m. UTC. Traders should also monitor the Monetary Policy Report, Monetary Policy Summary, and the votes of the Monetary Policy Committee. The regulator may deliver a so-called 'hawkish cut', meaning they will cut the rate but project fewer rate reductions in the future. In this case, GBPUSD may rally slightly. Conversely, if the BoE sounds explicitly dovish, the pair will likely drop towards 1.32500.
GBPUSD fell by 0.6% on Wednesday, continuing to consolidate ahead of the Bank of England's (BoE) meeting.
Possible effects for traders
The BoE is widely anticipated to lower interest rates by 25 basis points (bps) towards 4.25% on Thursday, marking its fourth consecutive rate cut. Monetary easing is anticipated due to mounting concerns over slowing economic growth because of U.S. President Donald Trump's trade tariffs. Investors will scrutinise the meeting—the first since the tariffs were introduced—for any changes in the bank's tone or economic projections. Additionally, U.K. inflation eased more than expected in March, dropping from 2.8% to 2.6%, supporting the case for the rate reduction.
'We take a slightly more cautious view', said Shaan Raithatha, senior economist at Vanguard. 'Though we acknowledge the inflation outlook is softening, there are some near-term risks', he added, before mentioning improving growth prospects, higher utility prices, and tentative evidence that the rise in national insurance contributions and a national living wage is 'starting to feed through to final prices'.
GBPUSD rose during the Asian and early European trading sessions. The BoE will announce its rate decision today at 11:00 a.m. UTC. Traders should also monitor the Monetary Policy Report, Monetary Policy Summary, and the votes of the Monetary Policy Committee. The regulator may deliver a so-called 'hawkish cut', meaning they will cut the rate but project fewer rate reductions in the future. In this case, GBPUSD may rally slightly. Conversely, if the BoE sounds explicitly dovish, the pair will likely drop towards 1.32500.
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INCOMING USD NEWS !
Unemployment claims on Forex Factory today refer to the number of people filing for unemployment benefits. High claims can indicate economic weakness, impacting currency values. Low claims are seen as positive for the currency. Traders use this data to make trading decisions.
FOREX FACTORY
Unemployment claims on Forex Factory today refer to the number of people filing for unemployment benefits. High claims can indicate economic weakness, impacting currency values. Low claims are seen as positive for the currency. Traders use this data to make trading decisions.
FOREX FACTORY
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