The US dollar is slightly up against the euro in the run-up to the Federal Reserve interest rate decision on Wednesday.
Changes in monetary policy are not expected, but market experts are hoping for more clarity as to when the US central bank will start to shut down its money supply. We don’t expect President Jerome Powell to go so far as to announce that end of easing is coming.
Macroeconomically, the news must come from the US today. This is where orders for durable goods are planned, as are Case Shiller’s figures on house prices and consumer confidence. The latter is calculated by the Conference Board. Friday is the University of Michigan’s turn.
The euro/dollar traded on Tuesday at 1,1778.