How Will USD React to ISM Manufacturing PMI?
ISM Manufacturing PMI will be announced at 17:00 MT (GMT+2) on Wednesday, December 1.
The FOMC Brings New Insights for the USD
What will happen?
The United States will publish the Federal Open Market Committee Meeting Minutes on November 24, at 21:00 GMT+2. This is a detailed report of the previous Fed's meeting that contains in-depth insights into the economic and financial conditions.
Why is it important?
As the market awaits the beginning of tapering and hawkish steps by the Federal Reserve, traders will be looking for a shift in the forecast for the next rate hikes, changes in the economic outlook, and, most importantly, the views on inflation. If the Federal Reserve confirms high inflation and makes steps towards tightening, the USD will gain.
How to trade on the FOMC Meeting Minutes?
To trade on this event, you need to follow the details in the news and on the official site of the Federal Reserve.
- If the Federal Reserve is hawkish, the USD will strengthen;
- On contrary, cautious comments will make the USD weaker.
Instruments to trade: EUR/USD, GBP/USD, USD/JPY
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Big Event for USD: Philly Fed Manufacturing Index
The US will release the Philly Fed Manufacturing Index – the impactful event for the USD and thus for all the major pairs. It will be out on November 18 at 15:30 MT (GMT+2).
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