All eyes on the U.S. FOMC's policy rate decision

All eyes on the U.S. FOMC's policy rate decision

28.04.2021

Yesterday, European markets fell across the board, while U.S. markets saw little movement ahead of the FOMC meeting, resulting in a market characterized by flat stock prices, a stronger U.S. dollar, and higher interest rates. Crude oil rose to the $62.7 range, while gold fell in tandem with the U.S. dollar’s rise and is currently trading in the $1,770 range. The U.S. S&P Case-Shiller Home Price Index released yesterday came in at 11.94%, compared to the forecast of 11.8%.

In the foreign exchange market, the Dollar Index—which measures the relative strength of the U.S. dollar—has stopped falling, and the dollar is showing a notable rise. The USD/JPY pair touched 108.97 during today’s Asian trading session and is gaining momentum toward the 109.00 level. However, the EUR/USD pair is trading in a range between 1.205 and 1.209 on the hourly chart, indicating that the euro is also showing strength, much like the U.S. dollar.

Today’s schedule includes the French Consumer Confidence Index at 3:45 PM, the U.S. MBA Mortgage Applications Index at 8:00 PM, Canadian Retail Sales and U.S. Wholesale Inventories at 9:30 PM,At 11:00 PM, ECB President Lagarde is scheduled to speak; at 11:30 PM, U.S. weekly crude oil inventories will be released; at 3:00 AM, the FOMC will announce its policy rate decision and statement; and at 3:30 AM, FOMC Chair Powell will hold a press conference.Additionally, U.S. President Biden’s State of the Union address is scheduled for sometime between early this morning and mid-morning. We will carefully assess the strength of the U.S. dollar versus the euro, which has been trending higher recently.

Past Market Reports

1. 20.04.2026New

   With the euro-Australian dollar pair hitting new lows this month, attention is turning to how much further it might fall

2. 17.04.2026New

   Will the market wait and see how much further the U.S. dollar can rise against the yen?

3. 16.04.2026New

   Will the weakening Swiss franc recover? Attention is turning to price movements during European trading hours.

4. 15.04.2026New

   Market participants are likely keeping a close eye on the upside potential of the euro, which has risen against the U.S. dollar

5. 14.04.2026New

   Should we keep an eye on remarks by key figures in the U.S. and try to gauge the direction of currency strength?

6. 13.04.2026

   Market participants are likely watching for signs of a rebound in the Canadian dollar, which fell against the U.S. dollar following the release of employment figures

7. 10.04.2026

   Will the weakening Swiss franc continue to strengthen against the yen, or should we wait and see?

8. 09.04.2026

   Will the U.S. dollar, which has fallen against the yen, continue its downward slide, or should we wait and see how the market moves?

9. 08.04.2026

   Should we keep an eye on the upside for European currencies that have risen against the U.S. dollar?

10. 07.04.2026

    Market participants may be wary of further downside potential for the U.S. dollar, which has weakened amid concerns over the situation in Iran