The most impactful releases of this week will fill the market with volatility and sharp movements. Be ready to take action!
Greenback sticks to 15-month minimums ahead of NFP report
On Friday, the evergreen buck was sticking to 15-month minimums versus other key currencies because last session’s dismal American service sector data kept weighing and traders waited for the publication of a major American employment report.
The currency pair EUR/USD ascended 0.12% being worth 1.1884, trading close to Wednesday’s 32-month maximum of 1.1911.
The American currency was under pressure after on Thursday the Institute for Supply Management told that its index of non-manufacturing activity went down to 53.9 from June’s reading of 57.4. Experts had hoped for an outcome of 57.0.
According to a separate report, the previous week American initial jobless claims went down by 5,000 slumping to 240,000 versus expectations for a 3,000 sag to 242,000.
Market participants are currently waiting for the nonfarm payrolls data for July in order to assess whether the American economy is sturdy enough for the US main financial institution to proceed with its planned tightening path.
We prepared an outlook of major events of this week. Check it and be ready!
Here you'll find what awaits the market this week, from the CPI release to a possible gold plunge.
The situation on the labor market still looks optimistic. Today we expect the Unemployment rate data. 3.5% is expected.
The first day of June should’ve brought us the US default. Unsurprisingly, the US House passes the debt ceiling bill at the latest possible moment.
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