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Webinar: Central Bank Weekly: US Dollar Riding FOMC Speculation, NFPs Tomorrow

Webinar: Central Bank Weekly: US Dollar Riding FOMC Speculation, NFPs Tomorrow

2017-10-05 14:40:00
Christopher Vecchio, CFA, Sr. Currency Strategist
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Upcoming Webinars for Week of October 1 to October 6, 2017

Thursday at 7:30 EDT/11:30 GMT: Central Bank Weekly

Friday at 8:15 EDT/12:15 GMT: US NFPs (SEP) Round Table Coverage

See the full DailyFX Webinar Calendar for other upcoming strategy sessions

In this webinar I discuss the major central banks' monetary policies and their implications for FX markets into mid-October.

FX markets have been largely guided by movements in the US Dollar the past two weeks, ever since the Federal Reserve's September 20 policy meeting. Rising rate expectations continue to support the buck, with Fed fund futures pointing to at least an 80% chance of a rate hike in December.

While a report with the magnitude that tomorrow's US Nonfarm Payrolls release brings, there is a temptation to fall back onto habit and project conclusion from the jobs data onto the Fed's next move.

Yet the September US jobs data won't be a normal report, and therefore, we shouldn't be looking for a normal reaction in markets. The short-term impact of Hurricanes Harvey and Irma may render the report useless as an indicator for underlying labor market trends.

Chart 1: Inverse USD/CHF, Inverse USD/JPY, Gold, & US Treasury 10-year Yield Hourly Timeframe (September to October 2017)

Webinar: Central Bank Weekly: US Dollar Riding FOMC Speculation, NFPs Tomorrow

Other topics covered include:

- Why has the US Dollar's rally paused this week after Monday's initial burst higher?

- Is the EUR/USD head & shoulders topping pattern still valid?

- Will tomorrow's US Nonfarm Payrolls report impact Fed policy moving forward? Why not?

Read more: DXY Index Posture Remains Bullish Ahead of US NFPs Tomorrow

--- Written by Christopher Vecchio, CFA, Senior Currency Strategist

To contact Christopher Vecchio, e-mail cvecchio@dailyfx.com

Follow him on Twitter at @CVecchioFX

To be added to Christopher's e-mail distribution list, please fill out this form

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