KEY POINTS OF THE FEDERAL RESERVE AND THE FOMC
Traders and economists confidently expect the Fed to keep interest rates unchanged in the range of 4.25-4.50%.
The Fed is likely to downgrade its GDP growth estimate for the year from 1.7% to around 1.3% or 1.4% after a slow first quarter.
A moderate surprise from the Fed — perhaps a hint that the door remains open to a rate cut in July or a strong inclination towards a cut in September (currently 'only' 60% is priced in) — could lead to a bullish breakout of the EUR/USD.
