FX.co - Markets continue to move sideways

2023-06-20T08:22:12

Relevance until2023-06-22

Markets continue to move sideways

The empty macroeconomic calendar will keep market players focused on the speeches of Fed members, as the outcome of the central bank's meeting last week left the situation regarding the real prospects of interest rate hikes rather uncertain.

The Fed decided to keep the key interest rate unchanged this June, hinting that the same could happen in July. This resembles a complex verbal intervention, so market players need to carefully scrutinize the statements of Fed members in order to understand what actions the central bank will actually take.

However, as there should not be any major surprises just a week after the Fed's meeting, the market will remain relatively calm, unless any unforeseen circumstances take place.

Forecasts for today:

Markets continue to move sideways