The week has started with a cautious note...
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.
A new week brings new trading opportunities
On January 23, the ECB announced the interest rate at 0%, unchanged. The ECB President followed with a press conference to give more details. What was the message?