A wait-and-see mood ahead of the U.S. FOMC meeting

A wait-and-see mood ahead of the U.S. FOMC meeting

26.01.2022

Yesterday, the three major U.S. stock indices all fell, resulting in a market environment characterized by falling stock prices, flat interest rates, and rising oil prices. Cryptocurrencies, which had been on a downward trend, rebounded, with BTC/USD recovering to the $37,800 range. However, the fear index (VIX) continues to rise and is currently hovering around 31.1. Gold extended its gains, reaching the $1,847 range.

In the foreign exchange market, the GBP/USD pair, which had been falling against the U.S. dollar, halted its decline and recovered to 1.351. The GBP/USD pair is rebounding with support from the 200-period simple moving average (SMA) on the 4-hour chart; if it can break firmly above the 20-period moving average (MA) on the 4-hour chart with a solid candlestick body, it is likely to resume its uptrend.

Today’s economic indicators include the French Consumer Confidence Index at 4:45 PM, the U.S. MBA Mortgage Applications Index at 9:00 PM, U.S. Wholesale Inventories (flash estimate) at 10:30 PM,at 12:00 AM: Canada’s BOC Policy Rate and Statement, U.S. New Home Sales; at 12:30 AM: U.S. Weekly Crude Oil Inventories; at 1:00 AM: Canada’s BOC Governor Macklem Press Conference; at 4:00 AM: U.S. FOMC Policy Rate and Statement; and at 4:30 AM: U.S. Fed Chair Powell Press Conference.We will be closely watching to see how the foreign exchange market reacts to today’s U.S. FOMC results.

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