FOREX

The US dollar is edging down as the European session gets underway. China is boosting its vaccination of vulnerable citizens, and it could be a sign that Beijing is preparing to relax its zero-Covid policy. This news was welcomed by the markets, driving a rise in risk appetite that would normally be negative for the safe-haven dollar. However, any downside for the greenback was balanced out by a mood of expectation from investors. Dollar traders are awaiting the release of US GDP numbers later today, and employment figures on Friday; two important sets of data, that are likely to influence the Federal Reserve’s decision making when it meets again in December. Traders will also be paying close attention to Jerome Powell’s speech later this Wednesday, which could provide clues over the pace of rate hiking by the Fed.

Ricardo Evangelista – Senior Analyst, ActivTrades      

Source: ActivTrader

The information provided does not constitute investment research. The material has not been prepared in accordance with the legal requirements designed to promote the independence of investment research and as such is to be considered to be a marketing communication.

All information has been prepared by ActivTrades (“AT”). The information does not contain a record of AT’s prices, or an offer of or solicitation for a transaction in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information.

Any material provided does not have regard to the specific investment objective and financial situation of any person who may receive it. Past performance is not a reliable indicator of future performance. AT provides an execution-only service. Consequently, any person acting on the information provided does so at their own risk.

The post Dollar traders are awaiting the release of US GDP numbers later today was first shown on ActivTrades.