October 31, 2017

FXPRIMUS, What to expect from Fed's Interest Rate Decision from November 1st

FXPrimus’s special report on FED Policy Rate, Wednesday November 1st.

This article is originally referred from FXPrimus Special Reports.

While US GDP grew by 3.0% in Q3 following a 3.1% gain in Q2 Consumer Spending rose 2.4% following a figure of 3.3%, albeit, both grew higher than economists’ estimations.

Analysts’ estimations for a GDP figure of 2.6% were influenced in anticipation of a decline due to damages caused by hurricanes.

Although nagging worries surrounding low inflation pressures keep inflation away from the 3.0% target demand from consumers and businesses, along with the latest Payroll report, may be paving the pathway for a December hike.

*The Bureau highlighted that the collection data was incomplete and further revisions may be seen in November 29th, when the 2nd estimate will be released.

With the Unemployment Rate falling to 4.2% (est. 4.3%) and the Bureau admitting that the Unemployment Rate was not affected by hurricanes, job growth seems to be followed by the growth in labour force.

This in return supports some further strengthening in the US economic growth and especially in inflation since the pace in wage gains also shore up while consistent upward revisions took place.

On October 17, Dollar was boosted by US Yields as the 10-Year Bond climbed above the 2.39% of July 7 on greater prospects of monetary policy.

Dollar soared higher days later on a Senate Budget approval, marking the most meaningful day for Trump and his tax reform plan, while Dollar was rising against Yen some 1.7%.

The latest political developments found the budget bill passed and ECB’s Draghi announcement of the QE changes just minutes before a report said Yellen was out of the Fed Chair race.

The 10-Year Yield accelerated to its highest levels since March 20, 2017 at 2.44% where it lies today (26/10/2017 | 16:15 EDT), along with a fresh 14-Week high in USD/JPY.”

Stavros Tousios, FX Market Specialist. This special report is provided as general market commentary and does not constitute investment advice.

Original Source: FXPrimus Special Reports

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