The Federal Open Market Committee’s two-day meeting will begin Sept. 19, with an interest rate decision expected early Thursday local time. Markets do not anticipate an interest rate hike at the central bank’s September meeting, but will be looking for more details on plans to unwind its balance sheet.
“[D]raining the economy of cheap money can’t be viewed as a positive for markets accustomed to feeding off central bank largess. Why investors are so complacent is a mystery, but perhaps the reality check will set in midweek,” said Stephen Innes, APAC head of trading at OANDA, in a note.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.