Nonfarm Payrolls is in Focus Today
The situation on the labor market still looks optimistic. Today we expect the Unemployment rate data. 3.5% is expected.
The Fed’s comments may move the USD higher
The Federal Reserve and the FOMC will make the monetary policy statement and announce the official rate on January 30 at 21:00 MT time.
There is no chance that the Fed will raise its current 2.5% interest rate. In addition, the recent dovish comments by the FOMC members and the Fed Chair Jerome Powell signaled the pause in rate hikes if the US economy weakened. In case the monetary policy statement contains some positive data, the USD will get positive momentum.
• If the FOMC statement is hawkish, the USD will rise.
• If the FOMC statement is dovish, the USD will fall.
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Oil prices are in focus today
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