EURUSD stopped declining and is currently trying to reach stability in anticipation of the news.
The major currency pair remains in balance on Wednesday. The current quote for the instrument is 1.1025.
There is still no important macroeconomic data and investors continue analysing the past and future moves of the US Fed, and make plans.
Later today, Fed Chairman Jerome Powell is going to speak again. His previous comments attracted a lot of attention as he mentioned a possibility of a 50-point rate hike following the regulator’s next meeting.
It is believed that the more comments Powell and other policymakers make, the better market players will understand what is really happening in the regulator’s monetary policy. Hence, lower market volatility. Apart from Powell, the head of the Federal Reserve Bank of St. Louis is also scheduled to deliver a speech.
Current market expectations imply a rate hike after each of the regulator’s six upcoming meetings this year.
Today’s trading session is promising to be rather short of important news and statistics but tomorrow’s economic calendar will revive. The US is planning to report on the Durable Goods Orders for February. The indicator is extremely volatile but very illustrative at the same time.
Source: Roboforex
