Forex: Today’s Economic calendar bears the most important economic indicators from US, namely, Nonfarm Payrolls and Unemployment Rate. These indicators together could provide clues of probable actions by Federal Reserve to taper $85 billion monthly asset purchase program in its September FOMC meeting. Nonfarm Payrolls for the month of August bears the expectation of 180,000 additions as compared to 162,000 in July after gaining 188,000 in June. Unemployment Rate for the month of August is expected to remain at the previous level of 7.4% which declined from 7.6% for the month of June. Given the positive signals by these indicators, it could be expected that Federal Reserve may consider to start scaling back their monthly asset purchase program from September onwards, which in turn could fuel the US Dollar Strength.
Posted on: Fri, 06 Sep 2013 12:39:06 +0000