Fed Interest Rate Decision comes in at 3.75% against 4.00% consensus
| Pair | Now | Since publish |
|---|---|---|
| EURUSD | — | — |
| USDJPY | — | — |
The Federal Reserve today announced its latest interest rate decision, setting the rate at 3.75%. This figure came in below the market consensus expectation of 4.00%, representing a -6.3% surprise compared to consensus. The previous interest rate was 3.75%.
Following the announcement, the US Dollar showed strength against several major currencies. AUDUSD moved -18 pips 15 minutes after the release, while EURUSD moved -34 pips and GBPUSD moved -35 pips. NZDUSD saw a -18 pip move. Conversely, USDCAD moved +19 pips, USDCHF moved +27 pips, and USDJPY moved +38 pips. Gold, XAUUSD, moved -448 pips 15 minutes after the release. For AUDUSD, NZDUSD, and USDCAD, these initial 15-minute moves are relatively small when compared to their historical median 1-hour moves of 25 pips, 24 pips, and 22 pips respectively. EURUSD, GBPUSD, USDCHF, and USDJPY have already exceeded their respective median 1-hour moves of 28 pips, 33 pips, 22 pips, and 26 pips within 15 minutes. XAUUSD’s move of -448 pips is significantly larger than its median 1-hour move of 79 pips.