Market Focus

On Wednesday, March 21, 2018, market participants will be focused on the FOMC statement and the decision on the interest rate of the US Federal Reserve. The statetment contains information on the results of voting on the interest rate, discussion of the current economic situation, and gives an overview of the further direction of monetary policy.

It is expected that the Fed will raise the interest rate from 1.50% to 1.75%. If the forecast confirmed it will support the US currency. Also, market participants will closely follow the comments of Federal Reserve Chairman Powell in anticipation of signals about whether the interest rate can be raised more than three times this year. In the case of positive signals  about the acceleration of the rate increase in the discount rate, One should expect the growth of the US dollar within 70-80 points against the basket of currencies.

Alexander Sivtsov