Wednesday , October 5 2022

US GDP and Powell's intervention could trade this Wednesday, November 28, 2018


This Wednesday, November 28, 2018 will be an opportunity for some important events for EUR / USD in the economic calendar, primarily in the United States. Let's find out the most important US statisticians expect today:

14:30: Today's most important statistics will undoubtedly be the second estimate of US GDP for GDP. A slight upward revision is expected to be 3.6% versus 3.5% reported in preliminary estimation.

16h: US's new home sales are also on the agenda this Wednesday. The consensus forecasts a return of + 3.7%, after a sharp decline of -5.5% the previous month.

18h: Finally, traders will also carefully monitor a speech by Jerome Powell, the Fed Chairman, from 18h.

EUR / USD Fundamental Analysis

The upward revision of US GDP can support the dollar, but the event risks the day being Powell's intervention, while Fed will continue next month to a fourth interest rate for this year. In Europe, no statistics are expected, but we will monitor the development of Brexit, or the Italian budget.

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