Dear clients,
On September 20, the US Federal Reserve System, the body that performs the functions of the Central Bank of America, will hold a meeting. The decision on the interest rate will determine further market movement, which is what makes traders involved.
Our expert tells us how the situation with the rates will develop now:
The US Fed may keep the rate at the previous level of 5.5% today, but will signal to traders about the possibility of raising rates at the next meeting on November 1, as fuel prices have risen strongly in the United States, which is fraught with rising inflation. The future rate hike is positive for the dollar, thus consider buying USDCAD, USDZAR and selling AUDUSD, XAGUSD on Wednesday.
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