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!
CAD: Canada Reveals Labor Data
What will happen?
Canada will reveal its jobless rate and employment change for June on July 9, 15:30 MT. What do these indicators mean? Well, the jobless rate shows the percentage of people who are unemployed and actively seeking a job, while employment change reveals how many people have become employed. The unemployment rate in Canada increased to 8.2% in May from 8.1% in April, in line with market expectations. Employment dropped by 68,000, with a major part of the decline in part-time work (-54,000).
How to trade on Canada’s employment data?
The better the labor data is – the more chances the Bank of Canada will tighten the policy, which in turn will push the Canadian dollar up.
- If the jobless rate is less and employment change is greater than forecasted, the CAD will rise.
- Otherwise, the CAD will fall.
Instruments to trade: USD/CAD, CAD/JPY, EUR/CAD
What will happen? The US Q2 Gross Domestic Product will be announced at 15:30 MT time (GMT+3) on Thursday, July 29…
Today the Fed will make a policy statement at 21:00 GMT+3. This event will affect all the currency pairs with the USD and thus almost the all Forex market!
The Reserve Bank of Australia (RBA) will hold a meeting and announce changes to the monetary policy on August 3, at 07:30 MT time (GMT+3).
What events to follow and how to trade during the week of July 2-6?
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.