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EUR/USD ended the day higher above 1.1800
Information is not investment advice
Ichimoku Kinko Hyo
USD/JPY: The USD/JPY pair is trading slightly below the cloud. A plunge of the market will push prices below the Tenkan sen level, targeting the previous low and even lower.
European Market View
This morning we get inflation figures for July from Germany ahead of the national figures at 14:00 CEST.
EU consumer and business confidence indicators coming out at 11:00 CEST.
In the afternoon, US pending home sales in June are due out. It will be interesting to see how the housing market is developing after a very hot start this year.
At the July meeting, like in June, the Fed statement was more hawkish than anticipated. The Fed now says "the economy has made progress towards" the goals and that the Fed "will continue to assess progress in coming meetings". The Fed repeated, that high inflation is due to "largely reflecting transitory factors" and highlights that labour market developments continue to be key for the timing of the tapering of asset purchases.
US stocks got a lifter a bit from the Fed statement but closed broadly flat with tech names outperforming while industrials were slightly lower.
EUR/USD ended the day higher above 1.18 after the FOMC meeting. USD/CNY dropped back below 6.50 after the impressive rise yesterday.
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