NEW YORK (Forex News Now) – The US Federal Reserve is due next Tuesday to release the minutes of its most recent Federal Open Market Committee, in a major realtime forex news event to start the new year.
The minutes will give an insight into what caused voters to hold the federal funds rate at 0.25%, and should also give an indication on how optimistic the economic outlook is for the future.
The Fed is scheduled to release the report at 7:00 P.M., GMT on Tuesday; as such it should have a big impact on currency market trading in the first week of 2011.
Increased pessimism tends to have a negative affect on dollar currency market trading. For example, the release of October’s FOMC minutes sent the dollar plummeting against the euro as the committee said the US economy would probably require further quantitative easing measures in the future.