For a long time, traders considered American Non-farm Payrolls (NFP) the most important release in the market. However, the situation has changed. Now US CPI moves financial markets.
Fed gives hope to the USD, focus on oil prices
The FOMC meeting minutes yesterday signaled the Fed's readiness to adjust its easing monetary policy. It provided a short-term boost to the US dollar. The oil prices have moved lower, while the gold has risen.
The oil prices have declined this week after the new Omicron strain was identified. What should we expect next from oil?
The higher prices seen today are generally related to the pandemic, that’s no doubt. US consumer prices jumped in October at the fastest pace in three decades putting the Biden administration on the defensive and increasing prospects that the Federal Reserve will raise interest rates next year. Jerome Powell says Fed will discuss speeding up bond-buying taper at the December meeting. What does it mean for markets?
This week is likely to be pivotal for many assets, including gold, USD, and several stocks. However, we need to be focused and react fast to the ever-changing environment to get the most from it.
This week, the majors will be affected by the interest rate decision by the Federal Reserve, NFP, the BOE Meeting, and more events.