USD 
EUR 
GBP 
AUD
The Fed stayed dovish, which was pretty wild, considering the recent hawkish tone from some of the members. It didn't take long for the market to react, with the US Dollar gaining ground against most major currencies. If you were watching EUR/USD, you'd have noticed it was stuck in a tight range, closing at 1.1502, basically unchanged.
And here's the thing, the Fed's decision to keep rates low isn't a surprise, but the fact that they didn't hint at any potential rate hikes soon, is. According to DailyFX, this could be a sign that the Fed is taking a more cautious approach, which could lead to a weaker Dollar in the long run. But for now, it's all about the Greenback, with the US Dollar/Mexican Peso closing at 17.7040, no change. You'd think the Mexican Peso would've taken a hit, but it's been holding its ground, which is honestly surprising.
But let's look at the bigger picture, the British Pound was pretty quiet, with the British Pound/Australian Dollar closing at 1.8843, no movement, and the British Pound/Yen at 211.8386, also unchanged. FXStreet pointed out that the Pound's lack of movement could be due to the upcoming economic events, like the Industrial Production data from the US, which could have a medium impact on the market.
And if you're looking at the Canadian Dollar, you'd have noticed it was under pressure, ahead of the Inflation Rate and CPI data, both with high impact. It's going to be interesting to see how the CAD reacts, especially if the data comes in higher than expected. We've got a lot to look forward to, and it's going to be a busy week, that's for sure. What's coming next, is anyone's guess, but one thing's for sure, it's going to be a wild ride.
What's Moving Markets
And here's the thing, the Fed's decision to keep rates low isn't a surprise, but the fact that they didn't hint at any potential rate hikes soon, is. According to DailyFX, this could be a sign that the Fed is taking a more cautious approach, which could lead to a weaker Dollar in the long run. But for now, it's all about the Greenback, with the US Dollar/Mexican Peso closing at 17.7040, no change. You'd think the Mexican Peso would've taken a hit, but it's been holding its ground, which is honestly surprising.
But let's look at the bigger picture, the British Pound was pretty quiet, with the British Pound/Australian Dollar closing at 1.8843, no movement, and the British Pound/Yen at 211.8386, also unchanged. FXStreet pointed out that the Pound's lack of movement could be due to the upcoming economic events, like the Industrial Production data from the US, which could have a medium impact on the market.
And if you're looking at the Canadian Dollar, you'd have noticed it was under pressure, ahead of the Inflation Rate and CPI data, both with high impact. It's going to be interesting to see how the CAD reacts, especially if the data comes in higher than expected. We've got a lot to look forward to, and it's going to be a busy week, that's for sure. What's coming next, is anyone's guess, but one thing's for sure, it's going to be a wild ride.