Hey Guys i want to know about FOMC meeting . whats is actually means . I use forexfactory for fundamentals new all curriences have their forcast and actual data after release but no Data shows about FOMC meeting . How to know about this News and its effect on pairs?
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Look for a service called myfxbook (free). Every week it will give you all the international pre-scheduled news announcements, including the FOMC meeting.
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First thing is figure what FOMC is:
The Fed - Federal Open Market Committee (federalreserve.gov)
Then figure when they meet:
The Fed - Meeting calendars and information (federalreserve.gov)
Then look for analysis on the changes from the last meeting - oft times the change is in tone - maybe more emphasis on the likelihood of inflation up ahead may appear on the minutes of the next meeting - if so then bullish USD because the Fed would then countenance increasing rates to counter inflation.
The market is always trying to second guess what’s up ahead.
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There’s also info on this website:
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Fed decision determines the price of credit in the US economy. This in turns affects price of all other assets (bonds, stocks through discounting rate) in particular USD exchange rate as changes in interest rate affects investment appeal for US assets compared to the assets abroad.