Market Crash Incoming?
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.
Fly with the USD on NFP!
The US Non-Farm Payrolls are announced on Friday at 15:30 MT time.
Instruments to trade: EUR/USD, USD/CAD, USD/JPY, GBP/USD
In the last three months, the US economy has been doing pretty well from the side of the labor market. In July, 1.76mln jobs were added into the economy after a stunning spike of 4.8mln jobs in June. In the meantime, the USD has been strategically losing value against most of its counterparts since June. That’s why beating the market expectations this Friday would be a very timely boost for the USD to regain its power and status as the safe-haven asset – especially in view of the nearing US elections in November.
- If the jobs data is better-than-thought, the USD will get stronger.
- Otherwise, it will lose value.
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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.
Investor Positivity May Fade After Powell's Speech and CPI Release
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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Focus on Banks' Meeting and NFP
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.
