Yesterday, USD strengthened against most major currencies except AUD and JPY.
The ADP Non-Farm Employment Change data (Actual: 365K, Forecast: 650K, Previous: 753K revised from 749K) released yesterday indicated a slowdown in the increase of employment in the private sector in October.
Also, the ISM Services PMI data (Actual: 56.6, Forecast: 57.4, Previous: 57.8) released yesterday indicated continued expansion in the services sector in October albeit at a slightly slower pace.
The Federal Reserve will be announcing their monetary policy decision tomorrow at 0300 (SGT). It is expected that the central bank will be holding rate unchanged at the target range of 0-0.25%. It is unlikely that the Fed will carry out any policy changes since the Presidential Election has not concluded.
The Fed will also be holding a press conference at 0330 (SGT). Pay attention to any remarks made by Chairman Powell on the conclusion of the Presidential Election. During this time, volatility is expected of USD.
The ADP Non-Farm Employment Change data (Actual: 365K, Forecast: 650K, Previous: 753K revised from 749K) released yesterday indicated a slowdown in the increase of employment in the private sector in October.
Also, the ISM Services PMI data (Actual: 56.6, Forecast: 57.4, Previous: 57.8) released yesterday indicated continued expansion in the services sector in October albeit at a slightly slower pace.
The Federal Reserve will be announcing their monetary policy decision tomorrow at 0300 (SGT). It is expected that the central bank will be holding rate unchanged at the target range of 0-0.25%. It is unlikely that the Fed will carry out any policy changes since the Presidential Election has not concluded.
The Fed will also be holding a press conference at 0330 (SGT). Pay attention to any remarks made by Chairman Powell on the conclusion of the Presidential Election. During this time, volatility is expected of USD.
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