FX.co ★ 18.12.2024: USD pulling back ahead of FOMC interest rate decision. Daily outlook for DXY, EUR, Brent

Markets are holding their breath ahead of the Federal Reserve's interest rate decision. Almost all major instruments have been trading sideways over the past 24 hours. Market sentiment will depend on this policy meeting.

It is not about the next level of the funds rate—there is no mystery there. It is clear that the key interest rate will be cut by 0.25% today. Even forecasts for further rate cuts will also be downgraded. The only question is: by how much?

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