The US Dollar Awaits for News Overview 25.07.2017

The EUR/USD pair is trading with no certain direction on Tuesday. Currently it holds at 1.1660. For today there is no significant events and news to be released. At the same time the US Fed will start its 2-day meeting. The meeting's results will serve as a guide for when the Fed will begin selling bonds which were bought during all rounds of Fed's QE program. The Fed has assets in the amount of more than $4 trln on its accounts. Among them it has government stocks and mortgage bonds.

The investors believe the launch of sales will fall on September, however, it should be better if Fed clarifies the details itself. By the way, there in no press conference scheduled for today.

CME Futures show the Fed can decide to raise the rate in December: currently, the expectations stand on 47.3% level while the previous week showed 48.3% of probability. As to the politics, this evening the Trump's administration is once again going to discuss yet another bulk of anti-Russian sanctions in Congress. For the time being, the most probable scenario for the pair is a movement in a range bounded by 1.1625 and 1.1670 levels.