US Federal Reserve hikes interest rate

Source: Dukascopy Bank SA


The US Federal Reserve Federal Open Market Committee has just increased the Federal Funds Rate from 5.25% up to 5.50%. The increase was expected.

In addition, the Fed has released the FOMC Statement, in which the rate decision's base is explained.

Note that the Chairman of the Federal Reserve Jerome Powell is set to host a live press conference at 18:30 GMT. The press conference causes major volatility, as the head of the central bank comments on monetary policy. In some cases the comments have reverted the initial market reaction to a rate change.
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Thu, 27 Jul 2023 12:18:41 GMT

European Central Bank hikes Main Refinancing Rate

The ECB has just increased its base interest rate from 4.00% up to 4.25%. In addition, the central bank has released its Monetary Policy Statement, which explains the reasoning behind the policy decision. The move follows yesterday's Federal Reserve's 0.25% hike. The central banks have tightened monetary policy in a tandem effort to combat inflation without disrupting currency exchange rates Note

Mon, 24 Jul 2023 13:20:25 GMT

EUR/USD falls due to PMIs

The release of the various European Manufacturing and Services Purchasing Managers Indices has revealed that the European business sectors are pessimistic in regards to the future. All of the data sets were already expected to be pessimistic. However, they beat the expectations to the downside, which caused a decline of the Euro.

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