
Happy Friday, traders! Are you ready to trade at the end of the week? Here’s what you need to know before you start:
The Federal Open Market Committee will publish a rate statement and announce an official rate at 20:00 MT on October 30. After that, at 20:30 MT, the Fed Chair Jerome Powell will conduct a press conference.
The analysts anticipate a rate cut by 25 basis points. If the Fed reduces the interest rate, it will be the third policy easing of the year. The Fed Chair Jerome Powell characterizes these interest rate decisions as the central bank’s mid-cycle adjustment. The slash of interest rate would be highly appreciated by the US President Donald Trump amid his criticism of the Fed's monetary policy. Also, it is recommended to pay attention to the tone of the statement, as it may affect the USD.
• If the rate cut happens, the USD will fall;
• If the rate cut does not happen, the USD will rise.
Happy Friday, traders! Are you ready to trade at the end of the week? Here’s what you need to know before you start:
The first week of November promises to be eventful, as we have the Fed meeting, the BOE update, and the NFP release. Read more details here.
Last week several important economic updates influenced the Forex market. US preliminary GDP fell less than expected (0.6% actual vs. 0.7% forecast). Below you will find the key events to trade on during the week from August 29 to September 2.
This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.
S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.
The United States Bureau of Labor Statistics will publish the US Consumer Price Index (CPI) m/m on January 12 at 15:30 GMT+2. The index measures a change in the price of goods and services purchased by consumers.
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