Will the FOMC keep interest rates unchanged? Market participants are on alert for price movements.

Will the FOMC keep interest rates unchanged? Market participants are on alert for price movements.

14.06.2023

In yesterday’s U.S. currency trading, the U.S. dollar rose against the yen after the core U.S. Consumer Price Index (CPI) for May, released yesterday, rose to 5.3% from the market forecast of 5.2%. The USD/JPY pair rose by approximately 1.3 yen, from 139.003 to 140.306, reaching the upper limit of its range over the past month.Since USD/JPY broke above the 50% Fibonacci retracement level on the daily chart following yesterday’s rally, we should remain cautious regarding whether it will continue to rise during today’s FOMC meeting.

European currencies rose against the U.S. dollar, with the euro gaining ahead of the ECB meeting the day after tomorrow.The EUR/USD pair rose by about 70 pips from 1.0753 to 1.0823, moving above the 20-day moving average on the daily chart. However, during today’s Asian session, it has already pulled back to around half of yesterday’s gains and is currently trading near 1.0783. We will be watching closely to see if the US dollar strengthens and the euro falls during today’s FOMC meeting.

Today, at 3:00 PM, UK GDP, UK industrial production, and UK trade balance will be released; at 6:00 PM, Eurozone industrial production; at 8:00 PM, South African retail sales and the US MBA mortgage applications index; at 9:30 PM, the US Producer Price Index; at 11:30 PM, US weekly crude oil inventories;at 3:00 AM, the U.S. FOMC interest rate decision and statement will be released, followed by a press conference with Fed Chair Powell at 3:30 AM, and at 7:45 AM the next day, New Zealand’s Q1 GDP is scheduled. We will carefully assess whether the FOMC will keep interest rates unchanged.

Past Market Reports

1. 21.04.2026New

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

2. 20.04.2026New

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

3. 17.04.2026New

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

4. 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

5. 15.04.2026New

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

6. 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

7. 13.04.2026

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

8. 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?

9. 09.04.2026

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

10. 08.04.2026

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