Welcome to Tuesday!
Get ready for the USD volatility
The United States will release the level of Non-Farm Employment Change, also known as Nonfarm Payrolls or NFP, at 15:30 MT time on May 3. The NFP is considered as the leading indicator of consumer spending. Last time the indicator came out higher than expected. However, the level of average hourly earnings, released at the same time, disappointed the market. It resulted in mixed trading of the USD. This month can lead to a different outcome.
• If the NFP is higher than expected, the USD will rise.
• If the NFP is lower than expected, the USD will fall.
In July, Britain's inflation rate rallied for the first time in 2018, thus leaving many UK households feeling quite squeezed by prices, soaring at nearly the same tempo as their wages…
On Friday, the evergreen buck rallied versus its counterparts after data disclosed that the American economy generated more jobs than anticipated In October, thus backing the Fed’s case to proceed with gradual rate lifts…
On Tuesday, gold rallied because uncertainty over the latest developments in Britain’s departure from the EU backed safe haven demand and traders looked ahead for American inflation data to underpin the Fed’s pledge to remain on hold…