Are you ready to stay ahead of the game in the Forex market? Look no further than Extreme Investor Network for all the latest updates and insights on trading, Wall Street, and more. Today, we’re diving into the upcoming US Economic Calendar and how crucial labor market data is for the Fed.
On Tuesday, all eyes will be on JOLTs Job Openings, with economists predicting a slight decrease from 7.673 million to 7.650 million in August. This data could impact US dollar demand and the Fed’s rate path. Wednesday brings the ADP employment figures, showing a potential increase in employment from 99k to 110k in September. The US labor market remains a focal point for the Fed as they navigate a soft landing.
Thursday will see the release of the ISM Services PMI, with economists expecting it to remain steady at 51.5 in September. A higher-than-expected PMI could signal a robust US economy and impact the Fed’s rate path. Finally, on Friday, the US Jobs Report will dictate the Fed’s rate path through Q4 2024. Economists expect the US unemployment rate to remain at 4.2% in September, with nonfarm payrolls rising by 145k.
As we look ahead, Fed speakers, including Chair Powell, will continue to move the dial. The near-term trend for the AUD/USD will be influenced by central bank chatter, PMIs from China, and the US economic calendar. Stay informed with Extreme Investor Network for all the latest updates to effectively navigate the Forex markets.