USD is at two-week low, gold rises
Here are a short wrap of the latest news and the tech analysis of EUR/USD, AUD/USD, and gold.
Any optimism for the Canadian labor market?
What will happen?
Canadian Employment Rate and Unemployment Change are announced on April 9, at 15:30.
Since May, which saw the unemployment rate reach 13.7% in Canada, this indicator has been going down until it came to 8.5% in November. After that, however, it started growing again and reached back up to 9.4% in January. February saw a drop to 8.2% - the lowest since the start of the pandemic in March. It was good news as the market was expecting 9.4%.
How to trade the Canadian jobs data?
This time, the expectation is 8.2% for the unemployment rate in Canada. Any major deviation from that may lead to a corresponding reaction in the course of the CAD.
- If the unemployment rate is lower than expected, the CAD may gain value;
- Otherwise, the CAD will drop.
Instruments to trade: AUD/CAD, USD/CAD, CAD/JPY, GBP/CAD
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Forex today: gold, AUD/USD, and USD/JPY
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What are the details of the FOMC meeting?
FOMC will share its Meeting Minutes on April 7, at 21:00 MT time.
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Strong USD is back
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NZD will be driven by RBNZ
The Reserve Bank of New Zealand will hold a meeting on Wednesday, April 14, at 05:00 MT.
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