What events to follow and how to trade during the week of July 2-6?
All traders await NFP
The NFP will be announced at 15:30 MT on January 10.
The last NFP release on December 6 provided very positive figures, bringing 266K added jobs to the economy, 3.5% unemployment rate, and 0.2% growth in average hourly earnings. The figures mostly surpassed market expectations and showed a significantly improved domestic picture for the US. Coupled with the positive news from the US-China trade talks, it led to a substantial rise of the USD. If the January 10 release referring to the industry performance in December brings another positive outcome, the USD will gain strength and provide a good market mood for the start of the year.
- If the NFP data is better than the market expectation, the USD will grow.
- If the NFP data is below market expectations, the USD will fall.
EUR/USD retraced to 1.1870 after breaking out this level. It should be just a natural sell-off ahead of the further rally up.
The Fed held a much-awaited meeting yesterday. The bank hasn’t made any policy changes. As a result, the USD weakened and EUR/USD rocketed. Jump in to know all the latest news!
Read a short market wrap before trading today!
The United States will publish the non-farm employment change, also known as non-farm payrolls or NFP at 15:30 MT (GMT+3) time on August 6.
Our analyst discusses the latest news and shares his trade ideas on gold, EUR/USD, and S&P 500. Jump in!