Forex Weekly Outlook August 3-7

US ISM Manufacturing PMI, Trade Balance, ISM Non-Manufacturing PMI, Rate decision in Japan, Employment data from New Zealand, Canada and the US, including the all-important NFP report. Join us as we explore this week’s market movers.

Last week the FOMC issued its rate statement reaffirming that the US economy continues to strengthen, leaving the door open for a possible interest rate hike in September. Policymakers noted the economy has rebounded from the slowdown, despite a downturn in the energy sector. The Fed also stated that the employment market saw solid gains in recent months, suggesting continued jobs growth. The Fed maintained its rates unchanged and noted the labor market needs to advance “some” more and inflation has to rise towards the 2% medium-term target, before the Fed decides to raise rates. Will we see a rate hike in September?

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