Morning, Traders!
It is Wednesday the 1st of November, and today is a big day in terms of US economic data.
Here is what to expect.
Sentiment
The dollar inched higher, while Treasuries rose as traders looked ahead to the Federal Reserve’s rate decision and US Treasury’s quarterly refinancing plans.
The Japanese yen rallied after Japan’s top FX official warned over possible currency intervention, while the Norwegian krone dropped the most among Group-of-10 peers.
The US central bank is poised to hold interest rates steady at a 22-year high for a second meeting, while leaving open the possibility of another hike as soon as December with economic growth staying resilient.
For a full prep article on this, CLICK HERE
Docket
08:15 ET
US ADP Employment Change for October
Median Forecast: 150K | Prior: 89K | Range: 200K / 100K
08:30 ET
Treasury Quarterly Refunding Announcement
The Treasury Quarterly Refunding Announcement is a statement issued by the US Department of the Treasury outlining its borrowing plans for the upcoming quarter, including the issuance of Treasury securities to finance government operations and manage the national debt.
09:45 ET
US S&P Manufacturing PMI October Final
Median Forecast: 50 | Prior: 50 | Range: 50.3 / 50
10:00 ET
US ISM Manufacturing PMI October
Median Forecast: 49 | Prior: 49 | Range: 49.7 / 47.8
US JOLTS Job Openings for September
Median Forecast: 9.4M | Prior: 9.61M | Range: 9.76M / 8.95M
10:30 ET
Weekly EIA Crude Oil Inventories
Median Forecast: 1.802M | Prior: 1.372M | Range: 3.8M / -2M
14:00 ET
US Interest Rate Decision
Markets anticipate the rate to remain unchanged at 5.5% for the third consecutive meeting.
US Rate Statement
For a dedicated prep article for the US Interest Rate, CLICK HERE
14:30 ET
FOMC Press Conference with Fed Chair Powell following the US Interest Rate Decision
Good luck!
