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July 30, 2018

Orbex, FOMC, Payrolls and ISM reports to dominate USD

The week ahead promises to be a busy one for the U.S. dollar.

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This article is originally referred from Orbex Market Preview.

Among the central bank meetings due this week, the U.S. Federal Reserve will be holding its monetary policy meeting on Wednesday.

No changes are expected from the Fed at this week’s meeting.

Still, investors will be looking to the central bank’s statement on forward guidance especially as expectations mount for a third rate hike from the Federal Reserve in September.

On the economic front, the data this week will see the release of the private payrolls report on Thursday followed by the official nonfarm payrolls report due on Friday.

The U.S. unemployment rate is forecast to fall to 3.9% after rising to 4.0% in June.

Estimates on wage growth are also higher this week.

The monthly average earnings are forecast to rise 0.3% on the month, slightly accelerating from 0.2% increase seen the month before.

This would potentially boost prospects that the U.S. economy is chugging along at a strong pace.

The ISM’s report on manufacturing and non-manufacturing services will also be coming out over the week.

Both measures are expected to show a modest decline after the index beat estimates in June.

Original Source: Orbex Market Preview

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