What will happen? US consumer confidence will be announced at 5:00 MT (GMT+3) on Tuesday, July 27…
Evergreen buck jumps backed by upbeat private sectors jobs data
On Thursday, the evergreen buck rallied, while Japan’s currency dived due to an upbeat private sectors job report.
Assessing the evergreen buck’s purchasing potential versus a number of its key counterparts the USD index showed 95.76 soaring by 0.09%.
On Thursday, the ADP and Moody’s Analytics disclosed that in September American services along with private payrolls headed north by 230,000. Market experts had expected the ADP nonfarm payrolls report to demonstrate a leap of about 187,000 jobs.
The American economy is currently booming, while the vast majority of other economies go down or decelerate, as some financial analysts pointed out.
The revenue on the United States 10-Year Treasuries jumped to the highest reading since 2011 reacting to the positive data.
As a matter of fact, the ISM index was considerably above the long-term average during periods of surge and also consistent with the upside risks to surge.
As follows from the data, labor demand still appears to be firm.
On Wednesday, Federal Reserve Chairman Jerome Powell found the current economic outlook positive enough. He added that interest rates would soar again.
In addition to this, the currency pair USD/JPY headed south by 0.12% hitting 114.41. At the same time, the Australian dollar and the New Zealand dollar both went down by 0.3% versus the evergreen buck.
According to a report from Pacific Investment Management, Australia’s housing dive increased the very likelihood of debt downgrades for local big financial institutions.
Market experts drew attention to the necessity of being more careful with the external credits of Australian financial institutions. Pimco market experts as well as portfolio managers told that the very likelihood of a market-moving agency downgrade, causing key financial institutions to lose their AA- rating for the first time in history turns to be higher than before now.
The OPEC meeting and the US Nonfarm Payrolls rocked the market last week. The market is torn between optimism about the global economic recovery and concerns about the new coronavirus strains.
All eyes are turning to the Federal Reserve and the US dollar. How to trade XAU/USD, EUR/USD, and GBP/USD?
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!
What will happen? The FOMC statement will be published at 21:00 MT (GMT+3) on Wednesday, July 28…
Hong Kong stock index extended a decline sparked by China’s tech crackdown. Tesla posted better-than-expected results. Jump in!