The United States will release the weekly Unemployment Claims on October 21, at 15:30 MT time (GMT+3).
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 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).