PMI reports from the EU, the UK, and the USA will be released during the day!
A good chance to trade the USD
The United States will release the level of Non-Farm Employment Change, also known as Nonfarm Payrolls or NFP, at 15:30 MT time on November 2.
The NFP is considered as the leading indicator of consumer spending, which represents the economic activity of the country. Last time the indicator came out lower than expected. As a result, US dollar significantly weakened. However, this month can lead to the different outcome.
• If the NFP is higher than expected, the USD will rise.
• If the NFP is lower than expected, the USD will fall.
Today traders await the European Central Bank to make a policy statement at 14:45 MT (GMT+3).
Oil dropped to the lows unseen since late May. Bitcoin has dropped below $30,000, while gold has reversed up from a dip under $1,800.
This week Apple, Microsoft, Google, Facebook, Pfizer, and other large US companies will deliver earnings reports…
The overall market sentiment is risk-on. The S&P 500 index (US 500) is getting close to the all-time high. Oil is recovering quickly from its recent losses.
What will happen? The FOMC statement will be published at 21:00 MT (GMT+3) on Wednesday, July 28…