The crypto market keeps recovering. Bitcoin has broken above $57,000. The way up to $60,000 is open now!
How bad is the US unemployment?
The US unemployment claims will be announced on Thursday at 15:30 MT time.
Instruments to trade: EUR/USD, GBP/USD, USD/JPY, USD/CAD
The numbers for initial jobless claims in the US in March and April will hardly be forgotten… ever. 6.8 million people applying for the unemployment benefits as reported on April 2 – that was something unseen in the US history, and the shock was aggravated on the contrast with the stunning performance of the American labor market at the end of 2019 and beginning of 2020. Another negative element was the surprise factor of the April 2 figure which came almost twice as high as the market expected. April 9 brought 6.6 million people applying for the benefits, which was more than the market forecast. If this week the figure comes more than expected once again, it should have a negative effect on the USD.
- If the figure is higher-than-expected, the USD will drop.
- Otherwise, it will be boosted.
The US Inflation Rate (CPI) will be announced on Wednesday, October 13, at 15:30 MT (GMT+3). Traders eagerly await this event as it will impact the USD and thus the vast majority of currency pairs in the Forex market.
The upcoming CPI and the earnings season are the main events in the focus of traders next week. Check out more!
The bullish movement in the stock market is gaining speed, and Bitcoin ETFs are closer than they might seem. What do we need to know for the next trading week?
The Fed is ready to start tapering in November. Since the markets were expecting this and it wasn’t a surprise, the USD slumped allowing risk-on currencies and gold to rally up.
US Retail Sales will be out on October 15 at 15:30 MetaTrader time (GMT+3).