Important events today:

18:00 UTC – US: US Fed meeting.

The main event of the day will be the announcement of the results of the US Fed meeting. The US Central Bank may raise the rate by 0.25 p.p. to 5.5% today, but will not signal that the rate cut cycle is about to start, as inflation risks still dominate the economy.

For example, the Conference Board’s Consumer Confidence Index rose to a two-year high, indicating a pickup in consumer spending, which in turn could trigger a pickup in inflation. The Fed tracks core inflation, which should be 1% below the central bank’s discount rate. Now the difference between the rates is 0.45% and raising the rate by a quarter of a percent is still not enough.

Recommendations: Sell 1.2915/1.2940 and TP 1.2830.