# FX Daily: Let the data do the talking | ING THINK

> ING's FX commentary of October 25, 2021 says the Federal Reserve has entered its pre-meeting blackout ahead of the November 3 FOMC meeting. It expects U.S. third-quarter GDP and September core PCE data later that week to drive the dollar, and it flags a possible short-term correction in the dollar. The note also reports a hawkish rate hike by Russia's central bank to 7.50%.

- Date: 2021-10-25 · published 2021-10-25T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/44789-fx-daily-let-the-data-do-the-talking-ing-think
- Commodities: [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md)

## Why it matters

Dollar direction affects dollar-denominated grain and oilseed prices and the cost of imports for emerging markets. The note describes market positioning rather than a new supply or demand shock.

## Sources

- think.ing.com: https://think.ing.com/articles/fx-daily-let-the-data-do-the-talking/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.