US dollar collapses after Fed’s meeting, Chair Powell delivers press conference. US yields move lower and Wall Street soars. The USD/CAD pair fell from 1.3320 to test yesterday’s low near 1.3250 in a few minutes following the FOMC meeting. The US central bank as expected kept rates unchanged and announced that it will end the balance sheet runoff in September. The staff projections contained downward revisions to growth and inflation, and signaled no rate hikes over the year. Chairman Powell mentioned during the press conference that the Fed will make additional adjustments to balance sheet plans if needed. US yields dropped sharply while equity prices in Wall Street turned positive after the announcement. Commodity and emerging market currencies rose significantly against the US dollar. Despite rising versus the greenback, the Loonie weakened against other currencies that were more benefit by risk appetite. The USD/CAD bounced modestly from the lows and as of writing was trading at 1.3265/70, down 50 pips for the day, still near weekly lows. A break under 1.3250 could add bearish pressure. The next support is seen at 1.3220/25. FOMC keeps benchmark interest rate unchanged at 2.25% – 2.5% range, sees no rate hikes this yearFed press conference: Jerome Powell speech – Live Stream – Mar. 20 FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Gold through key upside resistance on dovish Fed, despite neutral Powell on U.S. economic outlook FX Street 4 years US dollar collapses after Fed's meeting, Chair Powell delivers press conference. US yields move lower and Wall Street soars. The USD/CAD pair fell from 1.3320 to test yesterday's low near 1.3250 in a few minutes following the FOMC meeting. The US central bank as expected kept rates unchanged and announced that it will end the balance sheet runoff in September. The staff projections contained downward revisions to growth and inflation, and signaled no rate hikes over the year. Chairman Powell mentioned during the press conference that the Fed will make additional adjustments to balance sheet plans if needed.… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
