Here is what you need to know on Wednesday, November 1: The US Dollar (USD) stays relatively quiet early Wednesday after posting strong gains against its major rivals on Tuesday.
ADP Employment Change and ISM Manufacturing PMI data for October will be featured in the US economic docket alongside JOLTS Job Openings for September. Later in the session, the Federal Reserve will announce monetary policy decisions and Chairman Jerome Powell will speak on the outlook in a press conference. ISM Manufacturing PMI Preview: Elevated investment set to boost index, US Dollar. ADP Jobs Preview: A rebound that could not matter.
For example, if you pick the Euro from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent EUR /JPY . The Fed is widely expected to leave its policy rate unchanged at 5.25%-5.5% for the second consecutive meeting. The statement language regarding the prospects for additional tightening and Chairman Powell's comments on the policy outlook could ramp up the volatility during the American trading hours.
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