What is it? It checks the interest rate at which depository institutions lend balances held at the Federal Reserve to other depository institutions overnight.
Short term interest rates are the paramount factor in currency valuation - traders look at most other indicators merely to predict how rates will change in the future.
Usual Effect If the number is higher than the forecast, you can expect the USD to rise.
When? October 29th at 2:00pm Eastern Time.
Trading Tip: This announcement can greatly affect the USD, make sure to make your trades before.
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