Don’t waste your time – keep track of how NFP affects the US dollar!
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Personal areaThe US central bank, Federal Reserve, will announce its decision on further monetary policy on December 15 at 21:00 MT. Most traders are waiting for it eagerly as this announcement will define the price dynamics of the most traded currency in the Forex market – the US dollar.
There are two key things that traders should watch for: the pace of taper and outlook for the rate increase. The recent comments of Fed Chair Jerome Powell have signaled that the Fed is hawkish. Fed officials have already mentioned that the central bank can decide to double the pace of its taper to $30 billion a month. Speaking about rates, analysts expect that the first rate hike will not appear until summer. However, the Fed may hint at raising rates earlier than the markets expect.
It’s important to follow the overall market sentiment. The USD may rise ahead of the Fed statement as traders expect hawkish moves from the Fed.
Check the economic calendar
Instruments to trade: all majors, gold, US stock indices
