The month began for the US currency not in the best way. The dollar index, despite the weak volatility, once again went below 99 basis points.
Today, in the US will be publishing a report from ADP Non-Farm Employment Change and indexes of business activity from Markit and ISM. Judging by the forecasts, the number of employees will be much lower than previous values. Business activity in the United States has slow down in last time, so the indices can also go below expectations, which will put new pressure on the US dollar.
But today the main topic will be the meeting of the Federal Reserve System, which will determine the further movement of the greenback. Press conference this time will not be, like changes in monetary policy. After the last meeting of the Fed, statistics signals about slowdown of growth in the US economy. Donald Trump’s reforms occur much slower than expected, and some of his promises, looking how Congress responds to them, may not be realized at all.
Therefore, market participants will be more interested position of the American regulator. From forecasts and sentiments among members of the Federal Open Market Committee will depend, the US dollar will return to growth or continue to update the lows in the index chart.