US Dollar Price Action Talking Points:
- The next week brings a significant number of USD[1]-drivers with the highlights of next week’s FOMC[2] rate decision followed by the release of October Non-Farm Payrolls on Friday.
- A number of setups remain of interest on either side of the US Dollar[3] as looked at yesterday, and below I get a bit more granular across a number of major currency pairs.
- DailyFX Forecasts are published on a variety of markets such as Gold[4], the US Dollar[5] or the Euro[6] and are available from the DailyFX Trading Guides page[7]. If you’re looking to improve your trading approach, check out Traits of Successful Traders[8]. And if you’re looking for an introductory primer to the Forex market, check out our New to FX Guide[9].
US Data in the Spotlight as Q4 Reversal
The US Dollar continues to hold support after a rather visible reversal showed around the Q4 open[10]. And in the days ahead a significant chunk of USD-risk remains on the economic calendar[11], with highlights such as Monday’s Advance Trade Balance, Tuesday’s US Consumer Confidence numbers and, of course, the big one next Wednesday with the October FOMC rate decision. I had discussed this in-depth yesterday[12], looking at attractive scenarios on either side of the USD, honing in on Gold[13] for USD-weakness and USD/JPY[14] for USD-strength. The week isn’t finished with the Fed, however, as the following morning brings the FOMC’s preferred inflation gauge of PCE for its release of September data, and Friday brings Non-Farm Payrolls. So next week will be huge
