Yesterday, Fed Governor Chris Waller highlighted 5 economic releases that could sway his decision-making around the December 18 FOMC. The first on the list is out today at 10 am ET.
Waller cited five specific indicators that could sway him:
Job Openings and Labor Turnover Survey (JOLTS): today at 10 am ETNon-farm payrolls report: December 6Consumer Price Index (CPI): December 11Producer Price Index (PPI): December 12Retail Sales: December 13
Of those, JOLTS job openings are the lagging indicator but the Fed feels it delivers a clearer picture on the underlying trend. Looking at the chart, you can see why they have committed to lowering rates.
Fed pricing is steady at 70% for a cut today but that will swing somewhat on today’s data and move the dollar with it.
Other events to watch are speeches from Kugler at 12:35 am ET (she’s a dove) and Goolsbee at 1:30 pm ET (more of a dove).
This article was written by Adam Button at www.forexlive.com.
