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US Dollar (DXY) Outlook – Fed Chair Powell, US Inflation Data and NFPs All Near

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  • US Dollar respects support but remains weak.
  • Fed chair Powell will speak on inflation and the jobs market.

US Dollar (DXY) Outlook – Fed Chair Powell, US Inflation Data and NFPs All  Near

US Federal Reserve chair Jerome Powell is set to give a speech at the Brookings Institute on Wednesday titled Economic Outlook, Inflation, and the Labor Market. The speech to the non-profit think tank comes just before the release of the latest US inflation and jobs data that will go a long way to decide the outcome of the mid-December FOMC policy decision. If Powell uses tomorrow’s platform to reaffirm that US interest rates will need to remain elevated for longer to counter stubbornly high inflation, the greenback will likely reverse its recent sell-off and push higher again. Recent hawkish speak from the Fed board member James Bullard – ‘we’ve got a ways to go to get restrictive on policy’ – may be the start of a central bank pushback against market expectations of looser monetary conditions in 2023.

The latest US consumer confidence reading is published at 15:00 GMT today, ahead of a cluster of high-importance data releases scheduled for the rest of the week.



For all market-moving data releases and economic events see the real-time DailyFX Calendar.


What is your view on the US Dollar – bullish or bearish?




Nov 29, 2022 | DailyFX
Nick Cawley, Senior Strategist

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