Starting trading at the beginning of the week, the market movement in the early sessions was still calm in addition to the absence of important economic data published.
However, market players are already gearing up for a stormy trade heading into the end of the week with the main event being the FOMC meeting.
The US dollar was observed to be still moving lower so far in the European session today, continuing its dismal movement pattern of the past week.
The 10-year treasury yield of the United States (US) hovered around 3.75% after last week successfully reaching 3.80%.
Meanwhile, the dollar index, which measures the performance of the US dollar along with several major currencies, is flat above the 103.00 level, after last week's decline from the height of 104.700 that it successfully reached.
The 5.25% interest rate level will probably be maintained by the Federal Reserve (Fed) at the latest meeting, but it is not impossible that the increase will be done again like the central banks of Australia and Canada did last week.
The Bank of Japan (BOJ) is certainly expected to keep rates unchanged at a low level, while the European Central Bank (ECB) is expected to be more aggressive in raising rates by 25 basis points.
European currencies, the Euro and the Pound are seen to be performing well at the start of the week, but the situation could take a turn for the worse at any time.
It is difficult to make early predictions for the movement of these major currencies while waiting for the results of the meeting and the publication of important data.
Thus, investors need to be more prepared for greater risk this week which is a continuation of the uncertainty from last week.
