Forex News: The Fed’s Hawkish Hold Impact in the 4th Week of November 2023

In the rapidly evolving realm of forex trading, being ahead of the game is more than just beneficial—it’s a requirement. The constant shifts in the global economic terrain have the power to influence currency markets profoundly, emphasizing the pivotal role of real-time information as a trader’s most precious resource. Navigating this dynamic landscape necessitates not only staying informed with the latest forex news but also leveraging that knowledge to make insightful decisions that can substantially influence your trading outcomes.

According to Daily Forex, here are a few insights and potential trends to keep an eye on in the forex market. 

Sour Sentiment: Fed’s Hawkish Hold Impact

In the recent week, market sentiment toward risk has continued to be negative. This trend can be attributed mainly to the Federal Reserve’s policy meeting held two weeks ago, where they adopted a “hawkish hold” stance. As anticipated, the Fed chose to keep interest rates unchanged, but a notable shift occurred in their outlook. The Fed has indicated its intention to raise rates by 0.25% later in 2023. This implies that the current tightening cycle has not yet reached its peak, indicating further adjustments in monetary policy might be on the horizon. This cautious approach by the Fed has had a significant impact on market sentiments, leading to ongoing uncertainty among traders and investors.

US Core PCE and Final GDP Below Expectations

In the preceding week, notable data releases were limited, focusing on key indicators such as the US Core PCE Price Index, a crucial measure for gauging inflation trends, and the Final GDP, providing insights into economic growth. The Core PCE exhibited a slight dip below expectations, potentially signaling a positive outlook on inflation. Additionally, the Final GDP figures fell marginally short of anticipated levels.

Last Week’s Data Releases

  • US CB Consumer Confidence: The consumer confidence index in the United States fell slightly below what was expected, indicating a minor dip in the optimism of consumers regarding economic conditions.
  • Australian CPI (Inflation): The inflation rate in Australia, measured by the Consumer Price Index (CPI), matched expectations precisely, reaching an annualized rate of 5.2%. This suggests stability in consumer prices.
  • US Unemployment Claims: The number of individuals filing for unemployment benefits in the United States was slightly better than anticipated. This could imply a relatively expected scenario in the job market, influencing the overall economic outlook.
  • Canadian GDP: Came in slightly lower than expected, indicating a potential economic performance below the anticipated level.
  • US Revised UoM Consumer Sentiment: The UoM Consumer Sentiment surpassed expectations. This suggests an improved outlook among consumers regarding economic conditions.
  • German IFO Business Climate Data: The IFO Business Climate Index in Germany was slightly better than expected. This index reflects the sentiment of German businesses, providing insights into economic conditions.
  • China Manufacturing PMI: The Purchasing Managers’ Index (PMI) for manufacturing in China met expectations. This indicator gives an overview of the economic health of the manufacturing sector in China.


The news presented on Prime Codex is solely those of the analysts quoted. They do not represent the opinions of Prime Codex on whether to buy, sell, or hold specific pairs. Traders are advised to conduct their independent research before making an investment decision.

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