Open trading account 
Last week's Fed statement left the market with appetite to buy the USD. Specifically it is this part of the statement that led a strong conviction to the markets that they have not closed doors to a Dec Rate hike .
What stood out from the statement was the specific reference to the next meeting. Never before has the Fed been as clear about normalization at a specific meeting.
So what is next? Well perhaps the market had not priced in such a statement, as it was not expected. However, the US is still quite a bit away from it's 2 percent inflation target. And although the FED has signaled that normalization can occur even if it shows that progress is made towards achieving the target in the long run, no such progress has been seen as of yet.
For that reason, the bias remains for the downside for the USD - which favors buying EURUSD & GBPUSD on dips this week.
In determining whether it will be appropriate to raise the target range at its next meeting, the Committee will assess progress--both realized and expected--toward its objectives of maximum employment and 2 percent inflation
What stood out from the statement was the specific reference to the next meeting. Never before has the Fed been as clear about normalization at a specific meeting.
So what is next? Well perhaps the market had not priced in such a statement, as it was not expected. However, the US is still quite a bit away from it's 2 percent inflation target. And although the FED has signaled that normalization can occur even if it shows that progress is made towards achieving the target in the long run, no such progress has been seen as of yet.
For that reason, the bias remains for the downside for the USD - which favors buying EURUSD & GBPUSD on dips this week.
