Ekonomické zprávy
03.11.2021

European session review: USD slips ahead of Fed decision

TimeCountryEventPeriodPrevious valueForecastActual
07:00United KingdomNationwide house price index, y/yOctober10%9.3%9.9%
07:00United KingdomNationwide house price index October0.1%0.4%0.7%
09:15EurozoneECB President Lagarde Speaks    
09:30United KingdomPurchasing Manager Index ServicesOctober55.45859.1
10:00EurozoneUnemployment Rate September7.5%7.4%7.4%

USD depreciated slightly against most other major currencies in the European session on Wednesday, as investors awaited the release of the outcomes of the Federal Reserve’s policy meeting later today.

The U.S. Dollar Index (DXY), measuring the U.S. currency's value relative to a basket of foreign currencies, edged down 0.1% to 93.99.

The U.S. central bank’s policymakers will unveil the results of their two-day policy meeting today at 18:00 GMT. Economists widely expect an announcement of the Fed's tapering timeline. The Fed is likely to begin reducing its monthly asset purchases by $15 billion each month until ending them by mid-2022.

Investors will also look for clues on the future path of interest rates in the U.S. Markets have begun pricing in the rate hikes next year amid growing inflation pressures.

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