All Eyes On The Fed

09/16/2008 12:00 am EST

Focus: FOREX

John Jagerson

Co-Founder and Contributor,

The most important announcement by far tomorrow is the interest rate announcement from the US Federal Open Market Committee (FOMC). After today's meltdown on Wall Street, many traders are anticipating the Fed is going to lower interest rates from 2.00 percent to 1.75 percent. If that happens, watch for the US dollar (USD) to lose value.

Of course, the BOE Inflation Report is also going to be interesting. The UK economy isn't doing so well, and if inflation pressures are easing, the Bank of England (BOE) is much more likely to cut interest rates in the future.

Here are the economic announcements you need to keep a close eye on tomorrow:

  • CHF Industrial Production
  • GBP Consumer Price Index (CPI)
  • EUR German ZEW Economic Sentiment
  • GBP BOE Inflation Report . USD Consumer Price Index (CPI)
  • USD Treasury International Capital (TIC) Transactions
  • USD Interest Rate Statement

For more announcements, visit the Econoday Calendar.

By John Jagerson, of and

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