Forex traders are anticipating the afternoon publication of the US Federal Funds Rate, the recent decision made by the Fed regarding its short-term interest rates. Following last night’s positive vote of confidence in the Greece parliament, global markets appear mixed and jittery from heightened risk sensitivity and increased volume.
Many analysts are expecting Fed Chairman Ben Bernanke to once again downplay the risk of runaway inflation in the United States, signaling a continuation of the 0% to 0.25% record low interest rate. If dovish comments are reiterated from last month’s release, traders may pull away from the USD in exchange for its higher yielding counterpart, the EUR, especially given the recent step towards achieving a bailout of Greece last night.
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Greg Holden is the Chief Market Analyst at ForexYard. Greg uses his detailed knowledge of fundamental and technical analysis to provide some of the leading market forecasts in the forex world today. A guest lecturer at forex symposiums and Chief Editor of ForexYard's analysis center, Greg brings highly detailed and easy-to-use market analyses to his clientele. He has been published on ForexYard's Trading Blog and affiliate websites. Greg holds degrees in Political Science and Economics from Missouri State University, as well as a Masters degree in Middle Eastern History.
