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Ekonomické zprávy
01.11.2021

European session review: USD mixed ahead of Wednesday's Fed policy decision

TimeCountryEventPeriodPrevious valueForecastActual
07:00GermanyRetail sales, real unadjusted, y/ySeptember0.4%1.8%-0.9%
07:00GermanyRetail sales, real adjusted September1.2%0.6%-2.5%
08:30SwitzerlandManufacturing PMIOctober68.165.565.4
09:30United KingdomPurchasing Manager Index Manufacturing October57.157.757.8


USD traded mixed and little changed against other major currencies in the European session on Monday, as market participants prepared for the main event of the week - the U.S. Federal Reserve’s monetary policy meeting. 

The U.S. currency rose against JPY, GBP and AUD, fell against NZD and CAD, and changed little against EUR and NZD.

The U.S. Dollar Index (DXY), measuring the U.S. currency's value relative to a basket of foreign currencies, edged down 0.01% to 94.12.

The two-day meeting of the U.S. central bank is set to begin on Tuesday. Economists expect a formal announcement of the start to the tapering process when the Fed’s policymakers release their policy statements the following day. 

Investors will also look for clues on the future path of interest rates in the U.S. Markets have started pricing in rate hikes next year amid growing inflation pressures.  

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