EUR/USD is to respond to FOMC projections and Jerome Powell’s speech
Will Jerome Powell have to reassure financial markets again and will he succeed? Investors will be focused on the FOMC dots, the forecasts by the Committee members, where the federal funds rate should be. In December, policy makers expected two rate hikes in 2019, in March – not even one. The derivatives market suggests an 89% probability of the rate cut by 50 basis points this year. If the Fed doesn’t change its forecast, the Treasury yield will soar, the stock indexes will crash, and the US dollar should…
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