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What to pay attention to in FOMC Statement?

There are two main issues traders should pay attention to in Fed statement. First of them is interest rate hike. We can expect that FOMC members will once again call for patience. Fed Chair Janet Yellen said in December that being “patient” meant the committee was unlikely to raise rates “for at least the next couple of meetings,” or not before late April.
 
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Sterling little changed in a tighter-range Tuesday's session

Sterling was little changed in a tighter-range Tuesday's session. Markets are still weighing on possible deflation pressure in the UK, ahead of tomorrow's job figures and BoE Meeting Minutes. In his recent interview BoE Governor Mark Carney said  that ‘'It’s possible that prices will fall in a given month on a year-on-year basis. That’s possible.'’ Decline should happen due to the fall in oil and food prices. 

Sterling in stable above 1.51 area

It is a steadier Monday's session for Sterling as there is no data releases from the UK. Though, slowdown in British economy is obvious, and BoE is forecasting slower GDP growth in fourth quarter, all figures show that UK is still in a phase of expansion, unlike Eurozone. However, since UK is part of EU, slowdown in Eurozone economy could have negative impact on UK as well, at least in trading activity. 
 
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Will euro head towards 1.10 handle?

Euro is being traded in a tighter range this morning as there is no major data releases from Eurozone. Traders are also being cautious at the beginning of the week ahead of ECB Meeting this Thursday.

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