The Federal Reserve begins two days of meetings on Tuesday. Wednesday afternoon they are scheduled to release their policy statement. Expectations of seeing anything out-of-the-ordinary are low.
March’s job reports were a momentum killer to the multiple decent months of employment data. The Non-Farms report was released at 88K, the smallest number since last summer.
Job reports are looking ugly, but the unemployment rate is the lowest in four years (7.6%), how can this be? When Americans stop looking for jobs, they are not counted as part of the job market surveys. Therefore, a 7.6% unemployment rate is not as impressive as it looks.
The Dollar is currently strong against the Euro and Australian Dollar. Tomorrow’s FOMC report could create volatility in the market. Thursday’s Euro Press Conference will come into the spot light after the meeting. The world’s favorite pair, EURUSD, could see a lot of volatility this week.
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