FOMC Meeting, front and center. What to expect

The FOMC is expected to announce its interest rate decision today at 19:00 (GMT).

The bank is widely expected to remain on hold, maintaining rates at +2.25% and Fed’s Funds Futures currently imply a 93.9% probability for such a scenario.

Market focus could turn to the accompanying statement and as the US economy is on solid footing, some hawkish elements could be included.

Should there be a more hawkish tone in the accompanying statement, we could see the USD strengthening, as chances of a possible rate hike in the December meeting could increase.