| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|
| 07:00 | Germany | Retail sales, real unadjusted, y/y | December | -2.4% | -2% | -1.7% |
| 08:55 | Germany | Unemployment Change | January | 2 | 10 | -2 |
| 08:55 | Germany | Unemployment Rate s.a. | January | 5.8% | 5.9% | 5.8% |
USD firmed against other major currencies in the European session on Wednesday as investors waited for the announcement of the Federal Reserve’s policy update later in the day.
The U.S. Dollar Index (DXY), measuring the U.S. currency's value relative to a basket of foreign currencies, rose by 0.10% from the previous close to 103.50.
The Fed will announce its latest policy decision at 19:00 GMT. It will be followed by Fed Chairman Jerome Powell's press conference.
Investors largely expect that the U.S. central bank will leave interest rates unchanged but they are anxious to hear any shifts in the tone of its policymakers’ policy statements and Powell’s remarks, which could cause a revision of expectations on the path of interest rates in the U.S.
According to the CME FedWatch, markets are seeing a 45.6% chance that the interest rates will be cut from the current level of 5.25-5.50% to 5.00-5.25% in March and an 85.9% probability of the move in May.