US Initial jobless claims will be announced on Thursday at 15:30 MT time.
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.
The US dollar has broken through the key resistance, it failed to cross since March so far. Riskier assets are dipping. Let’s discuss it in detail.
Services and Manufacturing PMIs are out on Wednesday at 11:30 MT time.
China’s Manufacturing PMI will be out on Wednesday at 04:00 MT time!
China's industrial rebound, progress in US fiscal stimulus and other important news in this article.
The market sentiment is mixed as investors weigh US stimulus package against the rising infections and worse-than-expected US unemployment claims. Jump in for fresh analysis of EUR/USD, USD/JPY, S&P 500 and gold!