#OPINIONLEADER# #USDollarIndex#
ByJin Dao Tai
SEP 22, 2021
Yesterday, USD weakened against most major currencies except EUR, AUD and NZD.
The U.S. housing data released yesterday indicated an increase in the number of building approvals issued as well as an increase in the number of new residential buildings that began construction.
- Building Permits (Actual: 1.73M, Forecast: 1.60M, Previous: 1.63M revised from 1.64M)
- Housing Starts (Actual: 1.62M, Forecast: 1.55M, Previous: 1.53M)
The FOMC will be announcing their monetary policy decision tomorrow at 0200 (GMT+8). It is expected that the central bank will be holding monetary policy unchanged. However, the central bank may be dropping a hint on quantitative easing tapering. Also, the Fed will be releasing its quarterly economic projections material. Pay attention to the dot plot included in the material to see if there’s any change in interest rate forecast.
The central bank will also be holding a press conference at 0230 (GMT+8). During this time, expect volatility in USD.
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