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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

Trading volatility: USD around FOMC minutes on 21 February

With the Federal Reserve looking increasingly hawkish, bets are being pushed out on when the US central bank will cut rates.

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There could well be some more volatility around the dollar on Wednesday with the release of the Federal Open Market Committee’s minutes of the last rate meeting, from 31 January. IGTV’s Jeremy Naylor looks at the dollar basket (DXY) as a potential long trade.

(AI Video Summary)

FOMC's meeting minutes due next Wednesday

Next week, on 21 February, the minutes of the FOMC's important meeting that took place on 31 January will be shared. They will likely discuss how the Federal Reserve plans to keep interest rates higher for a longer period of time. This decision could cause some excitement and movement in the trading market. The main focus of this video will be on the US dollar, particularly the dollar basket.

During the previous meeting, the Federal Reserve made it clear that they will not lower interest rates until they see a decrease in inflation. However, recent data on consumer prices (CPI data) has shown that inflation is not going down as quickly as expected. This suggests that there may be more room for improvement and potential benefits in the market.

Status on the dollar basket

Currently, the dollar basket is trading at 10,403. This means that one unit of the dollar basket is valued at 10,403 compared to foreign currencies. It's important to note that there are still three more days of trading before the minutes of the FOMC's meeting will be released. During these three days, there is a chance that there will be increased excitement and activity in the trading market.

This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.

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