Daily Market News - July 27th, 2016
This morning, the key currency pair EUR/USD trades near the resistance level of 1.10 by adding 0.1%.
The key driver for pair and for the whole forex market as well, are results of the Federal Reserve meeting.
“A statement to be published on Wednesday at 2 p.m. in Washington at the conclusion of the rate-setting Federal Open Market Committee’s two-day gathering will probably acknowledge better news on the economy since the last meeting in mid-June.”, Bloomberg writes.
“But it is expected to fall short of telegraphing that a hike is right around the corner, and there is no post-meeting press conference with Fed Chair Janet Yellen to drop further clues.
Last month, FOMC voters unanimously agreed to leave the target range for the U.S. central bank’s policy rate unchanged at 0.25 % to 0.5 % amid uncertainty following a sharp deceleration in U.S. job growth in May, and ahead of the British referendum on European Union membership a few days later on June 23 [...]