The US Dollar rallied against most of its major rivals ahead of today's Interest rate decision. It is widely believed that rates will remain unchanged, but focus will be on the accompanying statement that may give clues to the economic outlook and future rate policy. The Dollar Index rose to trade at its best levels since September 2009.
- US consumer confidence jumped in January
- UK Q4 GDP came in at 0.1%, lower than analysts expectations (0.4%)
- US Interest Rates are widely expected to remain unchanged, but traders will be looking to the statement to eye the potential winding down of the asset purchase programme
- Ben Bernanke's term as FED Chairman ends on Sunday, as the Senate continue to debate whether or not he should be granted a second term
- Reports suggest that the Chinese Central Bank have made fresh moves to curb lending. China's central bank asked several lenders to raise their reserve ratios according to reports, in an attempt to cool down the nation's loan growth.
Major Economic News
US INTEREST RATE DECISION