The Federal Open Market Committee (FOMC) is a committee within the Federal Reserve System (the Fed). It’s mandate is to oversee the nation’s open market operations (i.e. the Fed’s buying and selling of United States Treasury securities). This Federal Reserve committee makes key decisions about Interest Rates and the growth of the United States money supply.
On the 27th of January, the FOMC will hold their first Monetary Policy meeting of 2021, where they are expected to hold their Interest Rates at the current <0.25%. Planning is key, save these dates to make your trading year more organized. I recently posted an episode on my podcast about GOAL SETTING. The next episode will be on time about time management.
Below is the annual FOMC dates. Kindly share this post with anyone who may need this information. You can also subscribe to this blog for notifications on new blog posts. If you have an android device, you can also download the App on Google Playstore. Thank you for stopping by.
Non-Farm Payrolls (NFP) is all about the number of jobs that the United States of America creates on a monthly basis. The stats are compared to the previous month and are released every first Friday of the month. There’s more to these stats though as we also have to look at the quality of jobs that were created. Those stats exclude the farming industry, hence it is called the non-farm payrolls. The first one was released at 3:30pm S.A time.
The markets have been very sleepy lately. It is known that the month of August is a very slow moth for trading. This week we have the most watched economic news from the United States. They’ll be releasing their 9th employment stats otherwise known as Non-Farm Payrolls (NFP) on the 4th of September together with their unemployment rates and earnings.
We now have an app where you can access these blog posts at your fingertips. I recently started posting weekly tips on the App that are mainly focusing on Forex trading psychology. The main aim is to help you shape your mindset and gear it up for better trading experiences. The weekly tips are posted exclusively on the app. You can download the app on Google Playstore and make sure that your device allows push notifications to be notified whenever a new weekly tip on Forex trading psychology to improve your trading is posted. Thank you so much for stopping by. Please feel free subscribe for future publications and kindly share this post to reach more traders who may benefit from this content. Below is our weekly economic news to watch this week.
Previously on the news: Due to a bank holiday on Friday, U.S Non Farm Payroll was released on a Thursday. Job numbers rose to 4800K Vs 3037K. These numbers were not necessarily about new jobs, but more about existing employees returning back as lock down is slowly easing. Earnings dropped to -1.2% Vs expected -0.8%. Unemployment rate dropped to 11.1% Vs 12.4%.
On the 7th, Reserve Bank of Australia(RBA) will be deciding on their Interest Rates. They are expected to maintain the current rate of 0.25%. As usual, they will also issue their Monetary Policy Statement, which focuses more on the future. We will be watching the tone of the statement to see if it is hawkish or dovish.
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Bank Of Japan (BOJ) will issue their monetary policy statement on Wednesday. U.S Retail Sales stats are expected to rise to 7.4% versus -16.4% expected. Fed Chair Jerome Powell is also due to testify on the Semiannual Monetary Policy Report before the Senate Banking Committee, in Washington DC. On Thursday, Swiss National Bank and Bank Of England (BOE) will decide on their Interest Rates and issue their Monetary Policy statements. Below is the weekly economic calendar.
We are kicking off our week with a speech from the European Central Bank (ECB) President Lagarde. She is due to testify at a virtual hearing before the European Parliament Economic and Monetary Affairs Committee, via satellite.
On Wednesday, Federal Reserve Bank (FED) is expected to maintain their Interest Rates at a current rate of <0.25%, followed by FOMC press conference. Below is the weekly economic calendar.
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