Global macro overview for 18/09/2015:

The Fed remained on hold yesterday and maintained the short-term interest rates unchanged at the level of 0,05%. Moreover, the most surprising statement from yesterday's press conference, was a very dovish inflation forecast. The Fed forecasted tfunds will be lowered by 25 bps in late 2015, 2016, and 2017 as the core inflation target of 2% will not be reached until 2018.This might means that even if the Fed starts raising the rates one day in 2018, the hike will be very slow and gradual. Moreover, the regulator refrained from rates raising because of both global and domestic factors. The US economy recovery was assumed as strong and progressive, but global concerns about decreasing commodity and oil prices is expected to have a further negative impact on inflation.

The EUR/USD pair has responced positive to the Fed's news. Currently, it is trading at the golden trend line resistance around the level of 1.1458.