Here is the list of major economic updates. FOMC meet comes with significant importance. Lets see how much hike in interest rates happen this time?
USD: FOMC Economic Projections at 11:30 PM
Scheduled 4 times per year
Next Release Dec 15, 2022
This report includes the FOMC’s projection for inflation and economic growth over the next 2 years and, more importantly, a breakdown of individual FOMC members’ interest rate forecasts. Source first released in Apr 2011
It’s the primary tool the Fed uses to communicate its economic and monetary projections to investors
USD: FOMC Statement at 11:30 PM
Scheduled 8 times per year
Next Release Nov 02, 2022
The FOMC usually changes the statement slightly at each release. It’s these changes that traders focus on
It’s the primary tool the FOMC uses to communicate with investors about monetary policy. It contains the outcome of their vote on interest rates and other policy measures, along with commentary about the economic conditions that influenced their votes. Most importantly, it discusses the economic outlook and offers clues on the outcome of future votes
USD: Federal Funds Rate at 11:30 PM
Measures: Interest rate at which depository institutions lend balances held at the Federal Reserve to other depository institutions overnight;
Scheduled 8 times per year
Next Release Nov 02, 2022
The rate decision is usually priced into the market, so it tends to be overshadowed by the FOMC Statement, which is focused on the future
Short term interest rates are the paramount factor in currency valuation – traders look at most other indicators merely to predict how rates will change in the future
Forecast- [3.25%]
Previous- [2.50%]
Actual- ?
Impact- The forecast figure seems to be negative for base metals and the dollar while negative for bullions. The actual figure is to release at 11:30 PM.
Source: Forex Factory
For more day to day economic updates stay tuned with us…!!