21:00 GMT+3 Interest rate in the USA. Fact 5.50%. Forecast 5.50%.
21:30 GMT+3 FOMC press conference.
Today, traders and investors are waiting for statements from Jerome Powell, which could clarify the current situation with inflation and economic slowdown, as well as update the Fed’s monetary policy forecasts. The general consensus in the market is one of pessimism, as few expect a rate cut this year. Against the backdrop of significant negativity embedded in the prices of risky assets, it would be enough for Mr. Powell not to aggravate the situation – investors would calm down and resume purchasing. Additionally, a high concentration of short positions in indices and stocks can serve as an impetus for new growth.
Jerome Powell will likely try to calm the markets by noting that current events were expected given the unstable global economy, and most market participants will buy the US dollar and shares of leading US companies during the current corrections.
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