Traders have been watching US economic data releases during the last few days in anticipation of the Federal Reserve meeting and its interest rate decision later today and could remain cautious.
Interest rates are expected to remain unchanged, however, expectations over the start of interest rate cuts could be affected, which could fuel some volatility in the market.
The Federal Reserve’s economic projections and dot plot could provide some hints about the next steps in monetary policy and could drive markets’ direction.
The forex market in particular could be exposed to strong volatility due to the succession of major central bank meetings over two days.
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