What will happen? The FOMC statement will be published at 21:00 MT (GMT+3) on Wednesday, July 28…
Evergreen buck rallies on jobless claims
On Thursday, the American dollar managed to surge. It happened due to the fact that the number of folks who filed for first-time unemployment benefits reached a two-and-a-half month minimum.
Estimating the purchasing potential of the greenback versus a number of its main rivals the USD index inched up by up to 0.19% demonstrating a reading of 97.20.
The evergreen buck was backed after the US Department of Labor came up with a statement that the number of American citizens applying for initial jobless benefits for the seven days by December 8 went down by 27,000 hitting a seasonally updated outcome of 206,000.
In addition to this, the UK major currency managed to soar a bit because on Wednesday British Prime Minister Theresa May definitely survived a vote of no confidence. As a matter of fact, Brexit woes still persist notwithstanding the win, as it seems unlikely that her party is going to underpin her agreement with Brussels on departing from the European bloc in March.
The currency pair GBP/USD went up by 0.04% trading at 1.2635.
The evergreen buck managed to leap against Japan’s currency. So, the currency pair USD/JPY went up by up to 0.27% trading at 113.62.
As for the common currency, it slumped after European Central Bank Governor Mario Draghi warned against downside risks. As a result, the currency pair EUR/USD dived by 0.17% ending up with 1.1348.
As Draghi told, recent data had appeared to be weaker than anticipated. Additionally, he stressed that the outlook for economic surge was updated a bit downwards for this year and for 2019 to respectively 1.9% and 1.7%.
In addition to this, the currency pair NZD/USD dived by 0.07% hitting 0.6852. AUD/USD rallied by 0.08% trading at 0.7225. As for the Canadian dollar, it slipped. USD/CAD added 0.11% showing 1.3364.
What will happen? US consumer confidence will be announced at 5:00 MT (GMT+3) on Tuesday, July 27…
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.
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.