Greenback Slightly Boosted After Positive Outlook From Fed
The greenback has been slightly buoyed by yesterday’s Fed meeting and the following statement. As expected, the rate was maintained at 1.25-1.5%. The statement marked positive outlook of the employment growth, household spending and business fixed investment. Moreover, members was some improvement in inflation. March rate hike is now priced in 80% odds (up from yesterday’s 74%). Some analysts even price in 90% chance. Today, investors are waiting for the NFP release, as it’s a pretty significant market mover.
Chinese Caixin PMI manufacturing remained at 61.6 in January. Australian import price index was up 1.5% qoq in the fourth quarter. Building approvals fell -20% mom in December. Japan PMI manufacturing was lifted 0.4 to 54.8 in January. As of today’s data, Swiss is about to publish PMI manufacturing, retail sales and SECO consumer confidence. Eurozone will announce PMI manufacturing revision. Britain will feature PMI manufacturing. US will present ISM manufacturing, Challenger job cuts, non-farm productivity, jobless claims and construction spending.