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Major Currency Pairs Hold Ranges After Fed as ECB and US Data Loom

Major currency pairs showed limited direction after the Fed held rates, with traders turning to the ECB and scheduled US GDP and PCE releases.

· Market news summary · 2 min read

The latest report

FXStreet reported on 29 October that major currency pairs failed to break out of their ranges after the Federal Reserve left interest rates unchanged. Remarks from Fed Chair Kevin Warsh drew a limited initial currency-market reaction.

Attention shifted to the European Central Bank's upcoming decision and scheduled US GDP and Personal Consumption Expenditures releases.

What traders are watching

Growth and inflation releases can change expectations for future interest rates, while central-bank guidance can matter even when the announced rate is unchanged. A quiet initial reaction does not rule out later volatility. The report describes conditions at its publication time, not current prices or a trading recommendation.

Source: FXStreet — read the original report

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