
This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.
The 1st of April came with some good news that only 27,000 people became unemployed in private sector. Yes, the Covid-19 virus has turned the world upside down, and we are just happy that the numbers haven’t been as bad as expected(i.e. 150,000).
This report is called ADP and it provides an early look at the employment data , generally 2 days before the release of the government report “Non-Farm Employment Change”, which is more reliable.
It’s important to highlight, the ADP is based on data from March 1 to March 12, what means that it’s not fully reveal the damage caused by coronavirus.
Another report was published today, which is called “Unemployment claims”. It said that 6,648,000 people filed for unemployment insurance for the first time during the past week. Nobody could have imagined that! The forecast was 3.6 million. Although the US dollar status is considered as a safe-heaven currency, it could come under pressure and drop.
Moreover, tomorrow we will see a broader picture of the current situation as non-farm payrolls, unemployment rates and average hourly earnings will be published.
Read the article “Employment data may make the USD volatile” and join our webinar “NFP Live : trade with analyst’s help” to know how to act to make more profit.
This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.
S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.
The United States Bureau of Labor Statistics will publish the US Consumer Price Index (CPI) m/m on January 12 at 15:30 GMT+2. The index measures a change in the price of goods and services purchased by consumers.
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Consumer Price Index, Existing Home Sales, US Fed rate decision - all of these things we will discuss in our new review. Don't miss it out!
The RBA and the Bank of Canada will add volatility to the AUD and the CAD, while USD is expected to be boosted by the Non-farm payrolls.
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