The EUR is the strongest and the NZD is the weakest as the NA session begins
The strongest to weakest of the major currencies It''s Fed Day. The Fed is expected to raise rates by 75 basis points when they announce their rate decision at 2 PM ET. That would take the rate to a high range of 2.5%. Fed officials have said the neutral rate is at that level (i.e, 2.5%). If starting to raise rates was step 1 in the Fed''s process, reaching neutrality would be step 2. The Fed is expected to continue to raise rates to snuff out inflation into the year end with the expectations for a year and rate near 3.5% (an additional 100 basis point). For a preview of the FOMC decision see Adam''s video HERE. To start the trading day, the EUR is the strongest while the NZD is the weakest. The USD is mostly weaker with mostly modest declines vs. most of the major currencies. The one exception is the NZD (up 0.06% in the morning snapshot). US stocks are set to open higher after Alphabet (up 4%) and Microsoft (up 2.9%) earnings and guidance eased some market anxiety. Today after the close Meta, Ford, Qualcomm, ServiceNow will highlight the earnings.
The EUR is the strongest and the NZD is the weakest as the NA session begins
The strongest to weakest of the major currencies It''s Fed Day. The Fed is expected to raise rates by 75 basis points when they announce their rate decision at 2 PM ET. That would take the rate to a high range of 2.5%. Fed officials have said the neutral rate is at that level (i.e, 2.5%). If starting to raise rates was step 1 in the Fed''s process, reaching neutrality would be step 2. The Fed is expected to continue to raise rates to snuff out inflation into the year end with the expectations for a year and rate near 3.5% (an additional 100 basis point). For a preview of the FOMC decision see Adam''s video HERE. To start the trading day, the EUR is the strongest while the NZD is the weakest. The USD is mostly weaker with mostly modest declines vs. most of the major currencies. The one exception is the NZD (up 0.06% in the morning snapshot). US stocks are set to open higher after Alphabet (up 4%) and Microsoft (up 2.9%) earnings and guidance eased some market anxiety. Today after the close Meta, Ford, Qualcomm, ServiceNow will highlight the earnings.