Yesterday, USD weakened against most major currencies except EUR, CAD and CHF.
The U.S. retail sales m/m data will be released later at 2030 (SGT).
- Core Retail Sales m/m (Forecast: 1.0%, Previous: 1.9%)
- Retail Sales m/m (Forecast: 1.1%, Previous: 1.2%)
The Federal Reserve will be announcing their interest rate decision tomorrow at 0200 (SGT). It is widely expected that the Fed will keep interest rate unchanged at a target range of 0-0.25%. It is unlikely that the central bank will carry out any new monetary policy changes given that they have already announced the adoption of average inflation targeting during the Jackson Hole symposium. Keep a lookout for any mentioning of the inflation level that the central bank is targeting since it was not announced during the symposium. Also, the Fed will be releasing their economic projections for the U.S. A press conference will be held at 0230 (SGT). During this time, volatility is expected.
