Forex Weekly Outlook March 21-25
The US dollar was beaten by a very dovish Federal Reserve. Will it continue the downfall? Inflation data from the UK, US durable goods orders and GDP data stand out. These are the main events on forex calendar. Here is an outlook on the market-movers of this week.
TheFOMC left its benchmark rate unchanged in a range of 0.25% to 0.50%, in line with market forecast. The Fed announced it intends to raise rates only twice this year and lowered its economic outlook. Nevertheless Fed Chair Yellen said it is better to raise rates quickly if the economy expands than to wait and cut rates when the economy begins to falter. Yellen also noted that the Fed is not considering negative interest rates and financial conditions have stabilized after the weak start of 2016.Will the growth trend continue?
