The US Non-farm payrolls, also known as NFP, will be published on April 3, at 15:30 MT time.
Greenback declines on Trump’s remarks on Fed
On Friday, the evergreen buck slumped after Donald Trump had the Federal Reserve heavily criticized for lifting interest rates, although it was still on target for a second winning week.
Estimating the greenback’s value versus a bunch of key currencies, the USD index slumped by 0.15% being worth 94.84.
Notwithstanding the sag, the evergreen buck happened to be on target for a second winning week, and it has soared over 5% for the last three months on hopes that interest rates are going to ascend.
Trump told that he doesn’t like how the main American financial institution is pursuing its monetary policy now. The Federal Reserve had rates raised twice in 2018, and it’s expected to have them lifted one more time before the end of 2018.
US leader told that he wasn’t thrilled about it at all. He told that the major US bank is used to raising rates each time the American economy goes up. However, this approach makes US products less competitive. Nevertheless, Trumps allows the Fed to do what the bank is believed to be good at.
At the same time, trade tensions resumed, with the EU anticipated to strike back against America with more duties after the United States slapped duties on aluminum and steel in June. Duties on $3.8 billion of American products have already been slapped by the European bloc.
The greenback dived versus the safe-haven Japanese yen. The currency pair USD/JPY dipped by 0.06% trading at 112.39. In times of uncertainty, market participants tend to purchase Japan’s currency because it’s considered to be a safe-haven asset, which would come in handy when facing hard times.
The UK currency managed to rally. The currency pair GBP/USD gained 0.08% being worth 1.3024. The currency pair EUR/USD added 0.11% trading at 1.1656.
The United States will publish ISM manufacturing PMI on April 1, at 17:00 MT time.
Canada will publish the monthly GDP growth on Tuesday, at 15:30 MT time.
WTI oil prices jumped up after Donald Trump’s 2 tweets
Today the US nonfarm payroll data will be reported that could cause fluctuations of the market.
WTI was at $20 per barrel just in the beginning of the day. Currently - above 25$.