State of the market: the market is restraint over upcoming data

The economic calendar of Wednesday will be full of significant events, including  inflation data in the UK and Canada, and the publication of the US Federal Reserve meeting minutes. The main event of the day is waiting for the Fed data on monetary policy. Despite the fact that the data from the Fed will be released after the close of the European trading session, the expectation of these statistics has a restraining effect on the market, which also caused a restrained strengthening of safe haven currencies.

From the start of the day, the US dollar index has been trading with restraint, limited to the expectation of data from the Fed. Prior to the publication of the US Federal Reserve’s report, the movement in the trading range from 97.80 to 97.50 is expected from the American dollar. Rise in volatility in possible on speculation and statements.

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Hanzenko Anton

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