Yesterday, USD strengthened against most major currencies except EUR, JPY and CHF.
During his testimony before the Senate, Jerome Powell said that the FOMC will be discussing on the acceleration of QE tapering during its December’s meeting. As the risk of higher inflation is rising, Powell highlighted that this may be a good time to stop the usage of the term “transitory” on inflation. Instead. The central bank will start to explain more clearly on their thoughts on inflation.
The Conference Board Consumer Confidence data (Actual: 109.5, Forecast: 110.8, Previous: 111.6 revised from 113.8) released yesterday indicated a decline in the outlook of current and future economic conditions from the surveyed households.
FOMC Chairman Powell will be testifying before the House Financial Services Committee together with Treasury Secretary Yellen later at 2300 (GMT+8).
During this time, there may be volatility in USD.
The ISM Manufacturing PMI data (Forecast: 61.3, Previous: 60.8) will be released later at 2300 (GMT+8).
During his testimony before the Senate, Jerome Powell said that the FOMC will be discussing on the acceleration of QE tapering during its December’s meeting. As the risk of higher inflation is rising, Powell highlighted that this may be a good time to stop the usage of the term “transitory” on inflation. Instead. The central bank will start to explain more clearly on their thoughts on inflation.
The Conference Board Consumer Confidence data (Actual: 109.5, Forecast: 110.8, Previous: 111.6 revised from 113.8) released yesterday indicated a decline in the outlook of current and future economic conditions from the surveyed households.
FOMC Chairman Powell will be testifying before the House Financial Services Committee together with Treasury Secretary Yellen later at 2300 (GMT+8).
During this time, there may be volatility in USD.
The ISM Manufacturing PMI data (Forecast: 61.3, Previous: 60.8) will be released later at 2300 (GMT+8).
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