Currency markets await the results of the US Federal Reserve meeting this week. By Arab Trader

Arabictrader.com – The currency market will be on a date this week with the release of many important economic data that will have a very strong impact on currency movements such as the Canadian dollar and the US dollar, in addition to both the pound and other major currencies. Below is a look at the most important data. Expected this week:

Results of the Australian Reserve meeting

These results will be issued on Tuesday, specifically at 12:30 AM GMT, and the currency markets always monitor these results with caution and anticipation, especially since they include more precise and clear details about the economic conditions in Australia, and the circumstances of decision-making within the Australian Reserve, and then currency market traders try Arriving at a conclusion or evidence regarding the upcoming decisions of the Australian Reserve, which will have strong repercussions on the movements of the Australian dollar against other currencies.

Canadian inflation data

This data will be issued on Tuesday at 1.30 pm GMT, and expectations indicate that Canadian inflation will grow by 0.2% on a monthly basis, while the average Canadian inflation rate records about 3.6% on an annual basis at the end of last October, and therefore, the currency markets will monitor these data. With great interest, especially since it affects the upcoming monetary policy decisions of the Bank of Canada, which affects the trading of the Canadian dollar against major currencies.

Currency markets are scheduled to follow with great interest the release of the results of the Federal Reserve meeting on Tuesday at exactly 7:00 pm GMT, which will have a strong impact on currencies, especially the US dollar, as it will give details about the Fed’s previous decision to raise interest rates. Therefore, observers will try to infer On hints about the expected interest rate decision in December, which will have a strong impact on the dollar’s ​​movements in the currency markets.

It is issued on Wednesday at 13:30 pm GMT, and the currency markets always monitor the issuance of unemployment benefits because they give a clear indication of the conditions in the American labor market, especially with the American labor market beginning to be affected by the high American interest rates during the last period. Therefore, the currency markets are monitoring these We pay close attention to the data, especially since it may give the Federal Reserve an incentive to continue raising interest rates if conditions in the labor market continue to be strong. Expectations indicate that US unemployment benefits may rise by about 226 thousand applications last week, and thus the unemployment benefits data will affect the dollar’s ​​movements against the major currencies.

European and British manufacturing and service sector data

These data are issued on Thursday, successively, starting from 8:15 to 9:30 am GMT, and the currency markets are always waiting for these data because they give an explanation or indication of how the manufacturing and services sectors within European countries and in Britain will be affected by the tightening of monetary policy by the central banks of these countries. Therefore, if the data for these indicators are lower than expected, this will have a negative impact on the euro and sterling against other currencies, and vice versa, if the data is higher than expected, this will have a positive impact on both the euro and sterling.

US manufacturing and service sector data

It is scheduled to be released on Friday at 2.45 pm GMT, and these data always have a strong impact on the movements of the US dollar in the currency markets, especially if the real data comes higher or lower than the expectations of the currency markets, which has a strong reflection on the performance of the US dollar.

Also, you can follow the most important economic data in the currency markets throughout the week by following the economic calendar. You can also follow economic events and analyzes through market coverage.

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