020 7898 0500It was a very quiet day for the US yesterday in what could quite easily be billed the calm before the storm if we have any fireworks later today. Forgive my mixing metaphors there. The Fed will announce their interest rate decision later today and it is as certain as it can be that rates will increase to 1.75%.
What is said in the subsequent press conference is arguably more important, as any particularly hawkish sentiments could cause some dollar strength. The question really is whether new Fed Chair Jerome Powell will allude to how many more rate hikes he expects this year.
We will also see existing home sales for February as well as the Federal Open Market Committee’s economic projections. It promises to be an eventful day which is rather fitting given the start to the week we have had.
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