Big Week for the US Dollar: Monday's Market Forecast

Posted by TopstepTrader on December 11, 2017

This is going to be a busy week for currencies - with a whole slate of data and central bank meetings. On Wednesday, the Federal Reserve will announce its policy decision, with expectations that it will hike interest rates another 0.25%. Given the fact that a new FOMC Chair will soon take the helm, the market is likely to pay closer attention to the statement's language and Fed Chair Yellen's press conference at 1:30 PM CT. 

Then, as the market digests those fireworks, the Bank of England and European Central Bank will come out with their own interest rate decisions on Thursday morning. Neither bank is expected to raise rates, though the market will closely monitor ECB President Draghi's comments at his press conference (7:30 AM CT Thursday) to see what he has in store for the pace of asset purchases. 

Before all this takes hold though, Senior Performance Coach John Hoagland runs down the U.S. Dollar, as well as equities ($ESH8), Crude Oil ($CLF8)  and Gold ($GCG8) in today's market forecast.  

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Topics: Market Updates