USD recovered around 0.5% against the Euro yesterday, despite varied economic data: a key manufacturing index leapt by 17%, well ahead of expectations, but industrial production data disappointed.
The US Federal Reserve will announce its interest rate decision at 7pm UK time. The word you’ll hear most about the Fed’s decision today is “dovish”, which means a looser monetary policy, with low interest rates intended to stimulate the economy. Anything that suggests a different stance would be a surprise and move USD.
Along with the rate decision today there will be aplenty of economic data to chew over, on retail sales, the housing market and energy stocks.
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