The Federal Open Market Committee (FOMC) is the branch of the Federal Reserve System that determines the direction of monetary policy specifically by directing open market operations. The FOMC is composed of the Board of Governors, which has seven members and five Federal Reserve Bank presidents.
As the monetary policy body, The United States will publish the Federal Open Market Committee Meeting Minutes on November 24, at 21:00 GMT+2. This is a detailed report of the previous Fed’s meeting that contains in-depth insights into the economic and financial conditions.
It is important to come up with report, As the market awaits the beginning of tapering and hawkish steps by the Federal Reserve, traders will be looking for a shift in the forecast for the next rate hikes, changes in the economic outlook, and, most importantly, the views on inflation. If the Federal Reserve confirms high inflation and makes steps towards tightening, the USD will gain.
How to trade on the FOMC Meeting Minutes？
For you To trade on this event, you need to follow the details in the news and on the official site of the Federal Reserve.
• If the Federal Reserve is hawkish, the USD will strengthen;
• On contrary, cautious comments will make the USD weaker.
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