{"id":103494,"date":"2017-03-15T12:35:31","date_gmt":"2017-03-15T16:35:31","guid":{"rendered":"http:\/\/countingpips.com\/?p=103494"},"modified":"2017-03-15T12:35:31","modified_gmt":"2017-03-15T16:35:31","slug":"the-fomc-countdown-begins","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/03\/the-fomc-countdown-begins\/","title":{"rendered":"The FOMC countdown begins"},"content":{"rendered":"
March 15, 2017<\/div>
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Article by ForexTime<\/a><\/p>\n

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The growing anticipation of an interest rate increase by the Federal Reserve in a few hours has boosted the Greenback with bullish investors propelling the Dollar Index back above 101.50 as of writing. With the March rate hike a done deal, investors may direct their attention towards the FOMC statement and economic projections which could provide markets some clarity on rate hike timings this year. A hawkish tone in this evening\u2019s FOMC press conference coupled with a potential upwards shift in the \u201cdot plot\u201d could reignite the bull rally as speculations heighten over the Federal Reserve raising US rates on repeated occasions in 2017. With the improving sentiment towards the U.S economy supporting the Greenback, Dollar Index bulls could be back in action once 101.50 has been properly conquered.<\/p>\n

Commodity spotlight \u2013 Gold<\/strong><\/p>\n

The looming US interest rates hike this evening has punished Gold with price stumbling back below $1200 as of writing. This zero-yielding metal has found itself at the mercy of rate hike expectations with a strengthening Dollar fueling the downside losses. Although risk aversion from the Brexit developments and elections in Europe have somewhat supported the metal this week, bears have maintained dominance with prices under noticeable pressure.\u00a0 From a technical standpoint, Gold is bearish on the daily charts as there have been consistently lower lows and lowers highs. Sellers may use the probable US rate increase this evening to attack Gold prices lower towards $1190.<\/p>\n

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Currency spotlight \u2013 EURUSD<\/strong><\/p>\n

The uncertainty gravitating around the elections in Europe have left the Euro vulnerable to heavy losses this week. Euro weakness has become a key theme with further downside expected as fears heighten over Eurosceptic parties destabilizing the unity of the European Union.\u00a0 The EURUSD has struggled to maintain gains on the daily charts this week with prices hovering around 1.0620. A rising Dollar from the prospects of higher US rates could provide permission for sellers to send the currency pair back towards 1.0500. From a technical standpoint, a break below the daily 20 simple moving averages could signal a further decline back towards 1.0500 in the short term.<\/p>\n

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Disclaimer: <\/strong>The content in this article comprises personal opinions and should not be construed as containing personal and\/or other investment advice and\/or an offer of and\/or solicitation for any transactions in financial instruments and\/or a guarantee and\/or prediction of future performance. ForexTime (FXTM), its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness, of any information or data made available and assume no liability as to any loss arising from any investment based on the same.<\/em><\/p>\n

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\"Forex-Time-Logo\"Article by ForexTime<\/a><\/span><\/strong><\/p>\n

ForexTime Ltd (FXTM)<\/strong> is an award winning international online forex broker regulated by CySEC 185\/12 www.forextime.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Article by ForexTime The growing anticipation of an interest rate increase by the Federal Reserve in a few hours has boosted the Greenback with bullish investors propelling the Dollar Index back above 101.50 as of writing. With the March rate hike a done deal, investors may direct their attention towards the FOMC statement and economic […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-103494","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/103494","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=103494"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/103494\/revisions"}],"predecessor-version":[{"id":103498,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/103494\/revisions\/103498"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=103494"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=103494"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=103494"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}