United States Bureau of Labor Statistics will release monthly average hourly earnings, non-farm employment change (NFP), and unemployment rate on October 8, 15:30 GMT+3.
Get ready for FOMC meeting
The US Fed Funds Rate announcement and Press Conference will be at 21:00 MT on January 29.
During its December session, the US Federal Reserve left the target range for the country interest rate at 1.5-1.75%. This was exactly what the market had expected, so the audience received this outcome as natural and was reassured that the rate will stay most probably unchanged in 2020. Intending to keep the rate at the current level until there is a major indication to do otherwise, the Fed enters a dilemma. On the one hand, Donald Trump keeps blaming Fed Chair Jerome Powell for a high interest rate and pushing to cut it “down to zero” to make the US more competitive. On the other hand, there have been concerns voiced out that the already low rate may lead to financial misbalance. What strategic line will the Fed choose for 2020?
- If the US Fed expresses more dovish tones, the USD will fall;
- If the US Fed expresses more hawkish tones, the USD will rise
Optimistic forecasts on oil prices, nuclear talks with Iran, and upcoming OPEC+ meeting. How to trade oil these days?
Great news for oil bulls! OPEC and its allied producers agreed to expand output cuts for the next month.
Last week was full of surprises! Stock indices have shown significant growth…
The US dollar is heading to close the seventh day in the red as it remains under selling pressure. The US data at 15:30 GMT+3 (jobless claims and Philly Fed Manufacturing Index) may support the greenback if it's strong.
Canada will publish the Retail Sales and Core Retail Sales on October 22, at 15:30 MT time (GMT+3).