Daily digest market movers: US Dollar firms ahead of July labor data and FOMC meeting
- Two-day FOMC meeting concludes on Wednesday with a plausible commitment to unchanged rates
- Market players recognize the solid performance of the US economy warrants no immediate action by the Fed, but September FOMC meeting is predicted to bring a potential rate cut into the spotlight
- Chair Powell's press conference has the potential to sway markets, but his precedent of focusing on labor market uncertainty is likely to continue
- In that sense, labor market data to be released throughout the week will guide market bets regarding the September decision
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