Here are the key factors to keep in mind today for US Dollar trades:
- US Building Permits & Housing Starts: Building permits are expected to increase by 2.2% in August monthly. This would equal 1.135 million building permits issued. Forex traders can compare this to the decrease of 15.5% in July monthly when building permits totaled 1.130 million. Housing starts are expected to decrease by 3.0% in August monthly. This would equal 1.170 million housing starts for the month. Forex traders can compare this to the increase of 0.2% in July monthly when housing starts totaled 1.206 million.
- US Initial Jobless Claims and Continuing Claims: Forex traders usually follow the weekly claims data in order to get a better idea about the status in the labor market and the potential NFP report at the beginning of each month. Initial jobless claims are expected increase to 277,000 while continuing claims are expected to increase to 2,263,000. Forex traders can compare this to the level of 275,000 and 2,260,000 which was reported in the previous week.
- US Current Account Deficit: The US is expected to continue to its big debt load with a current account deficit of $112.1 billion in the second-quarter. Forex traders can compare this to the previous current account deficit of $113.3 billion.
- US Philadelphia Fed Index: The Philly Fed Index is expected to decrease to 6.0 in September. Forex traders can compare this to the 8.3 which was reported in August.
- US Fed Interest Rate Decision: The US Fed is expected to stay put and keep interest rates unchanged at 0.25%. What could move the market is the potential hint of an interest rate increase in December which could allow the US Dollar to rally strongly.
Here are the key factors to keep in mind today for Swiss Franc trades:
- SNB Rate Decision: The SNB kept interest rates on hold at -0.75% and also maintained its 3-month LIBOR range between -0.25% and -1.25%. This was widely expected by the forex market and the Swiss Franc was able to eek out minor gains after the announcement.
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