Traders are Shifting Attention to the FOMC Decisions

The Fed is determined to deliver another super-sized rate hike.
traders will be closely watching the FOMC meeting this week
Being on the opposite side of the crowd’s expectations could prove to be beneficial.

Despite an imminent technical recession in the US, the Fed is determined to deliver another super-sized rate hike when it concludes its two-day policy meeting on July 27. Traders are shifting their attention to the big FOMC decisions later in the week. Being on the opposite side of crowd expectations could prove to be beneficial, just like in previous instances.

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The big event this week is the Federal Open Market Committee (FOMC) meeting on Wednesday and Thursday. There is a chance that the Fed could provide more clarity on its plans for future rate hikes, which has been a source of uncertainty in the markets lately.

So, traders will be closely watching the FOMC meeting this week for any clues on the future path of interest rates. A surprise from the Fed could lead to a move in the US dollar, so traders will want to be prepared for that possibility.

The FOMC meeting this week could provide more clarity on the future path of interest rates. If the Fed surprises to the upside and sounds more hawkish than expected, that could be a positive for the US dollar. On the other hand, if the Fed sounds more dovish than expected, that could be a negative for the US dollar. So, traders will be closely watching the FOMC meeting this week for any clues on the future path of interest rates. A surprise from the Fed could lead to a move in the US dollar, so traders will want to be prepared for that possibility.

In either case, being on the opposite side of the crowd’s expectations could prove to be beneficial. We’ve seen in previous instances that when the Fed has surprised to the upside, the US dollar has rallied, and when the Fed has surprised to the downside, the US dollar has sold off.

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Godfrey Mwirigi

Godfrey Mwirigi is an enthusiastic crypto writer with an interest in Bitcoin, blockchain, and technical analysis. With a focus on daily market analysis, his research helps traders and investors alike. His particular interest in digital wallets and blockchain aids his audience in their day-to-day endeavors.