empty
 
 

Forex Analysis & Reviews: Weak US economic data could persuade the Fed to be less hawkish on it policy
time 30.11.2022 10:46 AM
time Relevance up to, 03.12.2022 10:16 AM

Markets value today's economic data as it could have a significant impact on the decisions of the Fed in their December monetary policy meeting. The most crucial is the revised US GDP figures for Q3, which are expected to show an increase of 2.7%. This would indicate that the economy is not in recession and would therefore be viewed positively by market players investing in US equities.

The next data to look out for is the number of new jobs from ADP. Analysts expect its growth to drop from 239,000 in October to 200,000 in November. Following it is the core PCE figures, which should fall to 4.50% in the 3rd quarter. There would also be the JOLTS job openings for October.

If the figures do not exceed expectations, the Fed will not proceed with an aggressive rate hike. Instead, it would reduce the growth rate from 0.75% to 0.50%, which is actually what the markets expect. In that case, stock markets could gain support, while dollar will fall.

Another important event today is the speech of Fed chairman Jerome Powell. Many expect him to be hawkish, but some believe that he will try to avoid being specific, leaving room for manoeuvre for the central bank to decide at its December meeting.

Forecasts for today:

This image is no longer relevant
This image is no longer relevant

EUR/USD

The pair is trading within the range of 1.0300-1.0460. An improvement in market sentiment may prompt a rise to 1.0460.

GBP/USD

The pair is above 1.1940. Further risk appetite and rising expectations of lower rates in the US may push the quote to 1.2140.

Pati Gani,
Chuyên gia phân tích của InstaForex
© 2007-2023
EURUSD
Euro vs US Dollar
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Start trade
Start trade

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    THAM GIA CUỘC THI
  • Tiền gửi lần truy cập
    Ký quỹ tài khoản của bạn với $3000 và nhận được $1000 nhiều hơn!
    Trong Tháng 02 chúng tôi xổ $1000 trong chiến dịch Chancy Deposit!
    Có được một cơ hội giành chiến thắng bằng việc ký quỹ $3000 vào một tài khoản giao dịch. Đáp ứng được điều kiện này, bạn trở thành một người tham gia chiến dịch.
    THAM GIA CUỘC THI
  • Giao dịch khôn ngoan, thành công
    Nạp tiền vào tài khoản của bạn với ít nhất $ 500, đăng ký cuộc thi và có cơ hội giành được các thiết bị di động.
    THAM GIA CUỘC THI
  • 100% tiền thưởng
    Cơ hội duy nhất của bạn để nhận 100% tiền thưởng khi gửi tiền
    NHẬN THƯỞNG
  • 55% Tiền thưởng
    Đăng ký tiền thưởng 55% cho mỗi lần gửi tiền của bạn
    NHẬN THƯỞNG
  • 30% tiền thưởng
    Nhận 30% tiền thưởng mỗi khi bạn nạp tiền vào tài khoản của mình
    NHẬN THƯỞNG

Recommended Stories

Analysis of the trading week of January 30–January 3 for the GBP/USD pair. COT report.

The GBP/USD currency pair has also begun a very strong decline this week. Despite its drop from about a month ago, we also anticipated a decline in the value

Paolo Greco 18:15 2023-02-04 UTC+2

Analysis of the trading week of January 30–February 3 for the EUR/USD pair.

The EUR/USD currency pair has attempted to maintain its recent upward trend once more this week, although, during the past two weeks, it has begun to noticeably drop. About

Paolo Greco 17:39 2023-02-04 UTC+2

The U.S. dollar is losing its appeal as a safe haven: what does this mean for the EUR/USD pair?

A strong U.S. dollar was one of the main headwinds for gold and all precious metals last year as investors embraced the currency as a safe haven. But this forecast

Irina Yanina 16:42 2023-02-03 UTC+2

Weak US jobs data will support equities and put pressure on dollar

Markets continued to take advantage of the positive sentiment that emerged after the FOMC meeting on Wednesday. This is not surprising since the start of the new year, they have

Pati Gani 13:22 2023-02-03 UTC+2

GBP/USD. Overview for February 3. 2023

The GBP/USD currency pair increased as well, though far less significant than the EUR/USD pair. Additionally, this situation ought to have caused traders to pause. Why is the euro strengthening

Paolo Greco 11:20 2023-02-03 UTC+2

EUR/USD. Overview for February 3, 2023

The EUR/USD currency pair was moving in multiple directions on Thursday, but the previous evening it left the side channel it had been in for the previous three weeks

Paolo Greco 10:47 2023-02-03 UTC+2

Bitcoin rallies on Powell's remarks

Bitcoin's 40% rally in January, the best in a month since 2020, massive capital inflows into cryptocurrency-focused ETFs, and a $250 billion increase in market capitalization over the past four

Marek Petkovich 10:17 2023-02-03 UTC+2

EUR/USD: demand falls despite latest ECB rate hike

The ECB announced a 0.5% increase in its interest rate and explicitly said that there could be a similar one in March, depending on the economic data that will come

Jozef Kovach 08:21 2023-02-03 UTC+2

EUR/USD. The Fed hit the dollar, the ECB hit the euro

The European Central Bank increased the interest rate by 50 points at this year's first meeting, while announcing a 50-point hike at the next meeting in March. Despite such hawkish

Irina Manzenko 05:13 2023-02-03 UTC+2

GBP/USD. The Bank of England disappointed the British currency

The Bank of England, following the results of the first meeting in 2023, raised interest rates by 50 basis points to a target of 4.0%. At the same time

Irina Manzenko 23:00 2023-02-02 UTC+2
Không thể nói chuyện ngay bây giờ?
Đặt câu hỏi của bạn trong phần trò chuyện.