The United States will release the weekly Unemployment Claims on October 21, at 15:30 MT time (GMT+3).
Crucial event for Forex: NFP
Non-Farm payrolls will be out on Friday at 15:30 MT time! Are you ready?
Instruments to trade: EUR/USD, USD/CAD, USD/JPY, GBP/USD
Indeed, no event is more important for Forex than NFP. A few seconds after the release, charts usually start moving fast, creating huge swings. 1.371 million jobs were added in August, marking a decline from 1.734 million in the previous month. However, that rise hasn’t managed to offset 22 million jobs, which were lost in March and April. Therefore, the labor market is still well below pre-crisis levels. Nevertheless, the market’s reaction will depend on whether it beats estimates or not.
- As a rule, when NFP comes out better than the forecasts, the USD rises.
- When NFP is worse than the forecasts, the USD drops.
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).