From TradingView · · 1m 20s
Dollar-baht awaits Fed rate call
USDTHB traders brace for volatility as the Federal Reserve decides on interest rates today.
In brief
USDTHB traders brace for volatility as the Federal Reserve decides on interest rates today. The Fed's rate decision and retail sales data will drive major moves in the dollar-baht pair, with the currency expected to trade between 33.25 and 33.38. Originally reported by TradingView.
Dollar strengthens ahead of Fed
USDTHB closed at 33.30 as the dollar index hit 99.7, supported by higher bond yields and a risk-off environment before today's Federal Reserve meeting.
Employment gains, manufacturing slows
ADP employment rose to 16.3K from 12K, but New York's manufacturing index fell to 7.6, well below the 14.8 forecast, signaling mixed economic signals.
Retail sales will move the needle
Core retail sales and retail sales data release today are expected to show consumer spending recovery. Stronger-than-expected figures would support the dollar.
Fed rate decision sparks volatility
The Federal Open Market Committee will announce its rate decision today, with the market expecting rates to move from 3.75% to 4.00%, potentially triggering sharp moves in USDTHB.
Trading range set at 33.25-33.32
USDTHB is moving sideways between 33.25 and 33.32 after forming a higher low. Upside targets are 33.35 and 33.38 if support holds.
Watch the 33.25 support level
If USDTHB breaks below 33.25, the structure weakens and the pair could decline toward 33.21 and 33.15. Stop loss is set at 33.20.
The big picture
The Fed's rate decision and retail sales data will drive major moves in the dollar-baht pair, with the currency expected to trade between 33.25 and 33.38.
