Investors should pay close attention to Fed Chair Powell’s remarks at the FOMC meeting

Investors should pay close attention to Fed Chair Powell’s remarks at the FOMC meeting

21.09.2022

In yesterday’s U.S. trading session, the U.S. dollar emerged as the strongest currency, causing GBP/USD to drop 100 pips from 1.1459 to 1.1357. Although GBP/USD remains in a downtrend on the daily chart, with the 20-day moving average acting as resistance, the daily RSI has fallen below 30, indicating a divergence. Therefore, we will need to carefully assess whether the pound will strengthen against the dollar following today’s FOMC meeting.

European currencies fell against the yen yesterday after the euro’s current account balance for July plummeted from the previous month to a deficit of 19.9 billion euros. The euro/yen pair dropped by just under 100 pips, from 144.021 to 143.052. It is forming a triple top just below the 20-period moving average on the 4-hour chart. We will closely monitor whether the yen weakens again during U.S. trading hours today.

Today, at 17:00 CET, South Africa’s Consumer Price Index will be released, followed by the UK’sCBI Business Survey at 19:00, 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, the FOMC policy rate decision and statement at 27:00, the release of the Fed’s economic and interest rate projections at 27:00, and a press conference by Fed Chair Powell at 27:30.We should pay close attention to Fed Chair Powell’s remarks at the FOMC meeting.

Past Market Reports

1. 22.04.2026New

   Will interest grow in the upside potential of the Swiss franc, which has risen against the yen?

2. 21.04.2026New

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

3. 20.04.2026New

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

4. 17.04.2026New

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

5. 16.04.2026New

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

6. 15.04.2026

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

7. 14.04.2026

   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

8. 13.04.2026

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

9. 10.04.2026

   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?

10. 09.04.2026

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