Don’t waste your time – keep track of how NFP affects the US dollar!
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Personal areaThe US Fed rate will be announced on March 17, at 20:00 MT time.
While the rate itself is not expected to see any change, the economic outlook is what traders will be looking at. On the humanitarian side, the vaccines are expected to drive the recovery towards returning to normal conditions this year. On the financial side, while the economy is on the way to the targeted inflation rate of 2%, the rise of the Treasury yields has been a headline since recently and may be addressed by the Fed’s officials.
If the above projections of a steady economic recovery ahead in the US are confirmed, the USD will likely gain value on traders’ optimism. A more pessimistic outlook would press on the US dollar.
Instruments to trade: EUR/USD, GBP/USD, AUD/USD, USD/CAD
