The US dollar is awaiting the decision to raise the interest rate today

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The US dollar fell during trading today, Wednesday, in the European market, ahead of the US interest rate decision, against a basket of major and minor currencies, to resume its losses that were halted yesterday within the rebound operations from its lowest level in two weeks, and this decline comes before the release of many important data from the United States. On retail sales and consumer prices during the month of February, this is in addition to the results of the Federal Reserve’s meeting at the end of its regular meeting.

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By 11:40 GMT, the dollar index is trading towards the level of 101.43 points from the opening level of the trading session at 101.55 points, and it achieved its highest level at 101.58 points, while the lowest level was at 101.30 points.

It is noteworthy that the index had finished trading yesterday, recording an increase of 0.2 %, in the first gain in four days. In the United States during the month of February.

By 12:30 GMT, retail sales were released, and expectations indicated a rise of 0.2% during the previous month of February, from a rise of 0.4% in the month of January. Previous rise by 0.8%.

At the same time, the CPI reading for February is released, and the same previous reading is expected, which indicated an increase of 0.0 % from a rise of 0.6% in January, excluding food and fuel, an increase of 0.2% is expected, while the previous reading recorded a rise of 0.2%. 0.3 %.

The New York Industrial Index was also issued. Expectations indicated 15.3 points during the current month of March, from 18.7 points in February.

Today, the Open Monetary Policy Committee of the Federal Reserve concludes its periodic meeting, which has been extended since yesterday, to discuss monetary policies that are appropriate to the developments of the growth of the largest economy in the world, provided that its decisions are issued at 18:00 GMT, and the majority of expectations indicated an increase in the US interest rate by a quarter of a percentage point to a range (0.75%: 1.0%)

At the same time, the monetary policy statement and the economic outlook report are issued, while Janet Yellen, Federal Reserve Chairman, will speak at 18:30 GMT to comment on the decisions of the board and talk about the future of US monetary policy.

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Mohamed Abdel Khaleq
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