Dear clients,
On November 1, a meeting of the US Federal Reserve System, the body that performs the functions of the Central Bank of America, will take place. The decision on the interest rate will determine the further movement of the market, which draw attention of traders.
How the interest rate situation will develop now, our expert explain:
The Fed is in a difficult situation. On the one hand, it is necessary to raise interest rates against the background of inflation growth. On the other hand, the White House and Congress demand not to raise rates, as it may provoke a crisis in the economy, and in a year in the U.S. presidential elections. The Fed may keep the rate at 5.5%, but will signal to the market that it is ready to raise the rate at the next meeting if inflation risks persist. Buy USDTRY, USDZAR and Sell XAGUSD, BTCUSD, #NQ100 positions are preferred on Wednesday.
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