The main economic event of the week is Federal Reserve System (Fed) meeting that will be held on December 13th at 7pm GMT.
USA Fed is an independent federal agency, one of its main functions is implementation of monetary policy. The text of accompanying statement of Fed regarding the interest rate influences the market greatly. For this reason traders follow closely the outcomes of the meeting.
According to FreshForex experts, Chicago futures exchange indicates that tomorrow FOMC will raise interest rate by 0.25%. During the press conference Janet Yellen may state that inflation will grow in mid-term and Fed will have to raise interest rate three times in 2018. That will be a positive signal for American dollar. Consider going short on EUR/USD, GBP/USD and long on USD/CAD, USD/TRY.
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