The EURUSD rose somewhat Tuesday night, but the traders are very wary Wednesday. The pair is currently trading around 1.1350. With no Eurozone releases across the board today, the investors are totally focused on today's Fed meeting. The rate will most likely stay unchanged at 2.50%, but the market participants are also interested in the FOMC forecasts, which may get worse regarding the rate hikes this year.
Initially, three hikes were planned for 2019, but as we're heading to the end of Q1, the reports are very mixed, and no hike has been made yet. Is it high time to tell the investors that the economy can't support those three hikes this year? Jerome Powell, the Fed's Governor, is very likely to do that on today's press conference, if in a very much dovish way. And, in case this really happens, the greenback will be likely to fall.
