Currency Updates:
Markets are mixed today due to the release of monetary policy decisions in the U.S. and Europe, whilst concerns over Greece are not helping support confidence and risk taking.
After 56 FED meetings where the interest rate has not risen (or 7,5 years), global investors are awaiting the outcome of today’s meetings as well as the European Central Bank’s policy review later in the day. The Fed isn’t expected to take any action on interest rates, with consensus for a rate hike pushed to September, but the language used in the statement, as well as comments by Fed Chairwoman Janet Yellen during the subsequent news conference, will be very important.
Meanwhile, the ECB could announce a change to Emergency Liquidity Assistance to Greece. Talks between the country and its international creditors remain stuck in deadlock as Athens faces a $1.8 billion repayment to the International Monetary Fund by the end of June.
Data wise, besides the FED decision and the news conference, which is by far the most important news of the day, the financial calendar will feature lots of news from the UK and EU in the European session, so volatility at least for today, should be taken for a granted.
Quote of the Day: “A satisfied customer is the best business strategy of all” – Michael LeBoeuf
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