Brazil is struggling on both the humanitarian and the financial frontы. As a result, Brazilian real is weakening
Greenback soars ahead of NFP report
On Friday, the evergreen buck soared versus other key currencies, reviving from the previous session’s losses because traders wait for the highly-anticipated American employment report due later in the day for further clues on the strength of the US job market.
The greenback went down after on Thursday payrolls processor ADP reported that American private employers generated up to 158,000 jobs in June, which is below economists' expectations.
According to a separate report, the previous week initial jobless claims suddenly grew by 4,000 to 248,000.
The data emerged after Wednesday’s minutes of the Fed’s June gathering demonstrated a lack of consensus among Fed policymakers as for the outlook for inflation and how it could affect the future pace of interest rate lifts.
At its June meeting the Fed lifted rates and hinted at one more rate lift in 2017 and also three next year, although the subdued inflation outlook has since driven doubts over whether the major US bank will be able to keep to its tightening path or not.
The currency pair EUR/USD dipped 0.09%, hitting 1.1413.
The currency pair USD/JPY jumped 0.46%, trading at 113.74, which is the highest outcome since May 16.
USD/CHF and EUR/CHF rose to tactical highs. What's next?
Eurozone, France, and Germany will publish the flash services and manufacturing PMIs on February 19, from 10:15 to 11:00 MT time
US retail sales will be out on Thursday, April 15, at 15:30 MT. It is a significant release for traders as it will impact the US dollar.
As the earnings season kicks in, JPMorgan is the first to impress us with the better-than-expected data!
The Reserve Bank of New Zealand will hold a meeting on Wednesday, April 14, at 05:00 MT.