FOMC Rate Decision, explained.
The Fed's decision on its target range for the federal funds rate, plus a statement. Four meetings a year also include the 'dot plot' of officials' rate projections.
Why it moves markets
US rates set the price of dollars worldwide. The decision itself is often expected; the tone of the statement, the dot plot and the press conference can move the dollar, gold, stocks and emerging-market currencies.
Who publishes it, and when
Federal Open Market Committee, US Federal Reserve. Eight scheduled meetings a year. Statement at 2:00pm New York time, press conference 30 minutes later.
Pairs that often react
Pairs that include the currency involved usually react most. How much and in which direction depends on the surprise against expectations and on everything else going on. This isn't a prediction.
Educational only. Not advice and not a signal. Spreads often widen and prices can gap around big releases.