US Initial jobless claims will be announced on Thursday at 15:30 MT time.
Big day for USD
The US NFP will be published on August 7 at 15:30 MT time.
Instruments to trade: EUR/USD, USD/JPY, GBP/USD
Needless to say, the NFP is the most important economic indicator for all traders. It’s a widely awaited event because it creates the huge market volatility. Therefore, traders have a quite rare opportunity to see really enormous price movements. Non-farm payrolls reveal a change in the number of employed people during the previous month, excluding the farming industry. The employment slumped by a total of 22.2 million in April and March. Indeed, the USA was suffering from the worst time of the coronavirus pandemic. These days the labor market is gradually bouncing back, but it will take a lot of time to reach a full recovery. Moreover, the number of new virus cases in the country is still increasing at the record pace. That’s why it’s almost impossible to predict what the NFP will be this time. Catch the market movement!
- If the NFP is better than expected, the USD will surge.
- If the NFP is worse than expected, the USD will fall.
The US dollar has broken through the key resistance, it failed to cross since March so far. Riskier assets are dipping. Let’s discuss it in detail.
Services and Manufacturing PMIs are out on Wednesday at 11:30 MT time.
China’s Manufacturing PMI will be out on Wednesday at 04:00 MT time!
China's industrial rebound, progress in US fiscal stimulus and other important news in this article.
The market sentiment is mixed as investors weigh US stimulus package against the rising infections and worse-than-expected US unemployment claims. Jump in for fresh analysis of EUR/USD, USD/JPY, S&P 500 and gold!