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No macroeconomic reports are scheduled for Wednesday. Thus, throughout the day, traders will have nothing to react to. Only late in the evening will the FOMC meeting results be announced, which will certainly provoke a storm of emotions in the market and significant volatility.
Several fundamental events are scheduled for Wednesday. Of course, the FOMC meeting stands out as the only event of the day, broken into several parts. The decision on the interest rate can be considered already made – a 0.25% decrease. However, in addition to the rate, traders will learn about the FOMC's plans for 2026 – the "dot plot" will be published, reflecting each member of the Monetary Committee's expectations. Additionally, there will be a speech by FOMC Chairman Jerome Powell, who may also hint at future decisions of the central bank in his address. In the European Union, European Central Bank President Christine Lagarde will also give a speech, which is unlikely to interest anyone at this time (especially today), as there are still no questions regarding monetary policy with the ECB. In any case, the FOMC is likely focused solely on lowering the key interest rate, while the ECB may even consider raising it next year. The dollar's situation remains unfavorable under any circumstances this evening.
Throughout the third trading day of the week, both currency pairs are likely to lean towards growth, as both continue to form an upward trend. The euro is trading in the range of 1.1655-1.1666. The British pound has a range of 1.3319-1.3331. Volatility on Wednesday may again be low throughout the day, but traders can expect a "storm" in the evening.
Important Note: Significant speeches and reports (always included in the news calendar) can greatly influence the movement of the currency pair. Therefore, during their release, it is advisable to trade cautiously or exit the market to avoid sharp reversals against the preceding movement.
Remember: For beginners trading in the Forex market, it is crucial to understand that not every trade can be profitable. Developing a clear strategy and implementing sound money management are keys to successful long-term trading.