The United States will release the weekly Unemployment Claims on October 21, at 15:30 MT time (GMT+3).
A Grand Day for the USD
What will happen?
The United States will post the indicators of employment on July 2, at 15:30 MT time. You will get an opportunity to trade on the average hourly earnings, the unemployment rate, and, of course, on the non-farm payrolls (NFP). The last indicator tends to be the most important one. It represents the change in the number of employed people during the previous month without the farming industry. Last time, the data was mixed. Despite expectations of +645K, non-farm employment change rose by 559K. At the same time, the unemployment rate dropped to 5.8%, and average hourly earnings advanced by 0.5%. Still, traders were disappointed by non-farm payrolls, and the USD plunged.
How to trade on the NFP?
There are different ways for taking advantage out of the NFP release. Firstly, you can check the strategy for trading on NFP. Secondly, pay attention to the economic calendar.
- If the NFP is greater than the forecasts, the USD will rise;
- In case of an alternative scenario, expect a fall of the USD.
Instruments to trade: EUR/USD, GBP/USD, USD/JPY
The Fed is ready to start tapering in November. Since the markets were expecting this and it wasn’t a surprise, the USD slumped allowing risk-on currencies and gold to rally up.
US Retail Sales will be out on October 15 at 15:30 MetaTrader time (GMT+3).
Last week was full of surprises! Stock indices have shown significant growth…
The US dollar is heading to close the seventh day in the red as it remains under selling pressure. The US data at 15:30 GMT+3 (jobless claims and Philly Fed Manufacturing Index) may support the greenback if it's strong.
Canada will publish the Retail Sales and Core Retail Sales on October 22, at 15:30 MT time (GMT+3).