FOMC meeting minutes: The FOMC organizes 8 meetings a year and reviews economic and financial conditions, determines the appropriate position for monetary policy, and assesses risks on its long-term goals for price stability and sustainable economic growth. The FOMC minutes are released by the Federal Reserve Board of Governors and are a clear guide to future US interest rate policy.
President Biden's speech: Joe Biden is the 46th President of the United States. Biden will serve as president for four years, from January 2021 to January 2025. The well-known Democrat has nearly 50 years of political service, including eight years as Vice President under Barack Obama between 2008 and 2016.
Market mood remains optimistic amid better growth prospects. The decline in US yields pushes the dollar lower. President Biden is set to provide an update on his spending plans and investors are looking to the Federal Reserve meeting minutes to see if there is a tendency to raise interest rates.
While the International Monetary Fund (IMF) boosted its forecast for global growth to 6%, it made observations about the differences between countries in vaccination campaigns and fiscal stimulus.
While the US dollar fell, affected by the decline in the US Treasury bond yield to about 1.65%, as investors are buying the bonds after the previous sell-off related to the upbeat US data. The latest such number was vacancies at JOLTs, which broke estimates with 7.4 million in February. Investors await more at today's Fed meeting and US President’s speech.
It is decided that US President Joe Biden will make observations about the proposed infrastructure and tax program after it became certain that the Democrats would be able to pass such a scheme of $ 2.25 trillion without Republican support.
Biden introduced the goal of introducing vaccines to all Americans between May 1 and April 19, adding to the optimistic mood.
The significance of today's Fed meeting is that it may shed light on the number of members expecting to raise interest rates sooner rather than later while the Fed's tone was more optimistic than before, but with some caution.
Waiting for important data such as this data, we prefer not to open new trading positions two hours before the end of that data, in order to ensure the safety of your accounts because the movements may not be consistent with technical analyzes during that period, which makes it akin to gambling