The before and after. A look at the changes in forex, rates, stocks through the FOMC decision and press conference.

After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.

• Jan 28, 2026Fed holds rates with stocks at record highs, dollar under pressure, and Powell in the crosshairs | Fortune+0.4%
• Sep 16, 2020Fed decision September 2020: Interest rates unchanged+0.8%
• Jul 27, 2017Dollar Selloff Resumed after FOMC, Commodity Currencies the Best Performers - ActionForex-0.6%
• Jul 29, 2020Fed decision: Interest rates held steady, economic growth is 'well below' pre-pandemic level+0.4%
• Jun 14, 2017Dollar falls after Fed interest rate decision+0.6%

After 388 past bullish macro events, Euro (USD per EUR) moved a median +0.3% over 5 sessions (62% higher; middle half -0.4% to +1.1%), and +0.1% over 20.

• Oct 27, 2017Decisions taken by the Governing Council of the ECB (in addition to decisions setting interest rates)-0.2%
• Oct 31, 2024Dollar Consolidates, Yen Gains After BOJ Decision-1.2%
• Feb 3, 2022PRESS CONFERENCE+1.2%
• Apr 12, 2019Pound Sterling Forecasts Slashed at ING after Brextension Derails Bank of England-0.2%
• Mar 16, 2023Euro rises, dollar falls after ECB rate decision+2.4%

Not enough comparable past events yet for a historical read.

Not enough comparable past events yet for a historical read.