Next week the Federal Reserve will announce its decision on monetary policy. No change in rates is expected and the statement is likely to watch for clues about the December meeting. If no signals of a December rate hike are found, Greenback could lose momentum.
“Since there will not be an update of the FOMC’s projections, nor a press conference by Chair Janet Yellen, the only piece of information that we can look forward to this month is the FOMC statement. The Committee is likely to repeat that it would like to see ‘some further improvement’ in the labor market and that it would like to be ‘reasonably confident’ that inflation will move back to its 2 percent objective over the medium term. However, the assessment of the economy may move market expectations of the first hike”, said Philip Marey, Senior US Strategist at Rabobank.
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