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Fed Leaves Rates Unchanged in September

The U.S. Federal Reserve has kept the benchmark interest rate unchanged in September but did include in the Federal Open Market Committee (FOMC) statement that there will be one rate change in 2016. Fed officials cut the growth forecast of the U.S. economy to 1.8% this year and 2.0 for 2017.

The EUR/USD is range bound minutes after the release of the statement. Markets were anticipating the rate hold outcome and the currency pair is trading in a range.

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Alfonso Esparza

Alfonso Esparza [5]

Senior Currency Analyst at Market Pulse [6]
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza