USD gains as markets eye US private-sector data – BBH
|US Dollar (USD) is building on last week’s advances, BBH FX analysts report.
Fed speakers signal caution on rate cuts
"This week’s set of US private-sector data will offer clues about the employment and inflation backdrop. Positive labor data would fuel further USD gains above the August high, while softer figures can trigger a partial USD pullback."
"US October ISM manufacturing takes the spotlight today (3:00pm London, 10:00am New York). The headline index is projected at 49.5 vs. 49.1 in September, consistent with a slower contraction in manufacturing activity. Watch the prices paid and employment sub-indexes for signs that inflation risks are receding and job losses moderating."
"Fed Governor Lisa Cook speaks on the economy and monetary policy (7:00pm London, 2:00pm New York). This is her first speech on the economic outlook since the Trump administration’s attempt to have her removed from her post in late August. Ahead of her speech, San Francisco Fed President Mary Daly (non-voter) takes part in a moderated discussion (5:00pm London, 12:00pm New York). According to Fed Chair Jay Powell, 'there's a growing chorus' supporting skipping a cut ahead. Indeed, Dallas Fed President Lorie Logan and Cleveland Fed President Beth Hammack (both 2026 FOMC voters) said they would have preferred to hold rates steady last week."
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.