FxPro Help Centre - Glossary

FOMC (Federal Open Market Committee) (undefined)

Members of the Federal Reserve’s Open Market Committee are responsible for the direction of U.S interest rates. Thus, correlated events such as the time a member is scheduled to speak publicly or the time the internal meeting minutes are released, are regarded as high-impact economic indicators. If their sentiment is more hawkish than expected then this can have a positive effect on the value of the US dollar; and vice versa if their sentiment is more dovish than expected.