Daily Market Update – US Fed Interest Rate Decision Today (29 July 2026)

Today’s economic calendar is headlined by the US Federal Reserve Interest Rate Decision, due at 6:00 PM GMT, followed by the press conference 30 minutes later. This is the single most important event for forex and gold traders today.

Event at a Glance

Event	Fed Interest Rate Decision
Date & Time	29 July 2026, 6:00 PM GMT
Previous	3.75%
Consensus	3.75%
TE Forecast	3.75%
Press Conference	30 minutes after the decision

What to Expect

The Fed has held rates at 3.50%–3.75% for several consecutive meetings, and today’s decision is widely expected to be another hold. Market pricing suggests a roughly 60–65% probability of no change, though a minority of traders are still positioning for a surprise hike given persistent inflation pressure.

Likely Market Impact

• USD pairs (EUR/USD, GBP/USD, USD/JPY): A hold in line with expectations should keep the Dollar range-bound; the press conference often moves markets more than the decision itself.
• Gold (XAU/USD): Tends to move inversely to Dollar strength — a hawkish tone could pressure gold lower.
• US Indices (US30, NAS100, SPX500): A hawkish surprise typically triggers short-term selling; a dovish tone tends to support equities.

Also on the Calendar This Week

Date	Event
02 September 2026	Fed Beige Book
16 September 2026	Next Fed Interest Rate Decision

Risk note: High-impact news events like Fed rate decisions can cause sharp, fast price swings within seconds of the announcement. Always use proper risk management and be cautious of widened spreads and slippage around this time. This content is for informational purposes only and does not constitute financial advice — forex and CFD trading involves significant risk of loss.