Non-farm payrolls, the most awaited economic report, will be out on March 5 at 15:30 MT time.
Did the US economy end the year with a bang?
The US will publish the advance GDP for the fourth quarter of 2020 on January 28, at 15:30 MT time.
Instruments to trade: EUR/USD, USD/JPY, GBP/USD
It's not a secret that GDP is one of the most important measures of a country's economic activity. Being calculated as a change in the value of all goods and services produced by the economy, it serves as an indicator of economic health. At the start of 2021, we can say that measures taken by both the Federal Reserve and the government back in 2020 worked out just fine. The 3rd quarter GDP jumped by 33.4% after the plunge in the previous quarter. Will we see an even better outcome this time?
- If the indicators are higher than the forecasts, the USD will rise;
- In case of an alternative scenario - fall.
Stock indices S&P 500 and Nasdaq are falling for seven days in a row. The New Zealand dollar skyrocketed to almost two-years highs. Fed’s Powell held a meeting yesterday and said that the central bank wouldn’t tight its easing policy anytime soon.
On Thursday, February 25, at 15:30, the initial jobless claims will be published in the US.
The giant chip maker exceeded analysts’ expectations. Even with a global GPU shortage!
OPEC will hold a meeting on March 4, where it should announce its decision on further oil output.
The risk-on is back on the market as investors focus on the projections for a stronger-than-expected economic rebound and the Fed’s pledge to prolong support for the rest of the year.