The US Census Bureau will announce Core Retail Sales and Retail Sales on Tuesday, May 17 at 15:30 MT.
How Сan FOMC Impact USD?
What will happen?
The Federal Open Market Committee, a committee within the Federal Reserve (the Fed), will reveal a detailed record of the central bank’s meeting on April 6, at 21:00 MT. The record provides an in-depth understanding of the economic and financial conditions that influenced the Fed members’ vote on setting interest rates. It’s usually published eight times per year, three weeks after the Federal Funds Rate is announced.
How can USD react?
The Fed raised the rate by 25 basis points in its last release. The US economic activity and employment rate keep growing. Inflation remains elevated, reflecting the supply-demand imbalance associated with the pandemic, higher energy prices, and broader price pressures. Moreover, Russia's invasion of Ukraine causes enormous human and economic hardships. The implications for the US economy are highly uncertain. Besides, the invasion and the related issues are likely to put upward pressure on inflation and dampen economic activity in the near term.
The FOMC Meeting Minutes release from February 16, 2022, slightly decreased USD by 182 points.
How to trade on USD FOMC Meeting Minutes release?
Even if we know the Fed Funds rate decision results, some insights can help us understand the Fed’s future policy.
- If the record uncovers more Fed’s hints on policy tightening, the US dollar will rise.
- Otherwise, the US dollar will fall.
Check the Economic Calendar.
Instruments to trade: EURUSD, USDCAD, USDCHF, USDJPY.
The US Bureau of Labor Statistics will announce average hourly earnings, nonfarm employment change (NFP), and the unemployment rate on May 6, at 15:30 MT time.
The Bank of England will publish its Monetary Policy Report and Summary, Official Bank Rate, and its votes on May 5 at 14:00 MT.
The Reserve Bank of New Zealand will publish a monetary policy report and make an update on the interest rate on May 25, at 05:00 GMT+3.
The Australian Bureau of Statistics will announce the updated Unemployment Rate and Employment Change data on Thursday, May 19, at 04:30 MT.
The UK Office for National Statistics will publish Consumer Price Index (CPI) data on Wednesday, May 18, at 09:00 MT.