Be on the lookout for significant price movements following the FOMC meeting
22.09.2021
- U.S. FOMC Policy Rate and Statement Release
- U.S. Existing Home Sales
Yesterday, the three major U.S. stock indices saw mixed performance, resulting in a market environment characterized by flat stock prices, flat interest rates, and falling crude oil prices. WTI crude oil briefly dipped below the key $70 level, falling to $69.3, but is currently trading around $71.2. Gold has risen to the $1,776 range.
In the foreign exchange market, with the U.S. dollar on the decline, European currencies and the U.S. dollar remain locked in a tight battle, and the EUR/USD pair is trading within a range of 1.170 to 1.175. The EUR/USD pair has yet to recover from the sharp drop two days ago, and the focus will likely be on whether it can hold above the support level at 1.166, which is the recent low on the daily chart.
Today’s schedule includes a press conference by Bank of Japan Governor Kuroda at 15:30 (Asia time), the Turkish Consumer Confidence Index at 16:00 (Europe time), the South African Consumer Price Index at 17:00, the U.S. MBA Mortgage Applications Index at 20:00, U.S. Existing Home Sales at 23:00 (U.S. time), U.S. Weekly Crude Oil Inventories at 23:30,at 03:00, the U.S. FOMC policy rate decision and statement, and at 03:30, a press conference by Fed Chair Powell. We will be closely monitoring today’s FOMC meeting to see how much progress is made in the tapering discussions.
Author: Keisuke Sakurai
