The US NFP will be published on August 7 at 15:30 MT time.
A chance to trade the USD
The United States will release durable goods orders at 15:30 MT time on June 27. What is this strange thing and why does it matter to Forex traders?
To keep it simple, durable goods orders represent just another important piece of the US economic statistics. Durable goods are goods like automobiles, tools, etc. that have a long term of service. If manufacturers order a lot of such goods, it means that they are increasing their activity and will produce more. Production contributes to economic growth, so an increase in durable goods order is positive for the American currency. Do not miss this release if you trade USD!
- If the indicator is greater than the forecast, the USD will rise.
- If the indicator is weaker than the forecast, the USD will decline.
The market sentiment is indeed risk-on today. Stocks, riskier currencies and gold are rising amid the waning US dollar.
The overall market sentiment is mixed as new virus cases continue rising throughout the world, but most economic indicators came out better than analysts expected. Let’s look at the main market movements.
The market sentiment improved after the USA reported some decreasing in coronavirus hospitalizations. Gold dropped below $2 000 and the US dollar dipped down, while stocks surged. Let’s have a closer look.
The RBNZ will make the monetary policy statement on August 12 at 5:00 MT time!
The market has started the week with a mixed sentiment…