All eyes on USD/RUB ahead of the CBR interest rate decision
The main bank of Russian will likely turn hawkish today. Time to sell USD/RUB?
It’s NFP time again
The United States will publish the non-farm employment change, also known as non-farm employment change or NFP at 15:30 MT time on March 6.
Instruments to trade: EUR/USD, USD/JPY, GBP/USD
The indicator represents the change in the number of employed people during the previous month excluding the farming industry. Traders pay huge attention to it, as it makes the US dollar highly volatile after the release. It’s worth mentioning that it comes out at the same time with the level of average hourly earnings and the unemployment rate. The previous release contained mixed data. While NFP showed an increase of 225K jobs (vs. the forecast of 163K), average hourly earnings came out lower than analysts’ expectations (0.2% vs. 0.3% expected). At the same time, the unemployment rate reached 3.6% (vs. the forecast of 3.5%). As a result, the reaction of the USD was limited.
• If the NFP and average hourly earnings are higher and the unemployment rate is lower than the forecasts, the USD will rise;
• If the NFP and average hourly earnings are lower and the unemployment rate is higher than the forecasts, the USD will fall.
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The GBP may be supported
Great Britain will publish its trade balance for April on June 11, at 09:00 MT time.
Is all good with the AUD?
The RBA Rate Statement comes on June 1, at 07:30 GMT+3.
Latest news
Will the economic data drive the USD up?
The United States will release retail sales and producer inflation (PPI index) numbers at 15:30 MT time on June 15.
Gold dropped, market awaits Fed meeting on Wednesday
Gold has plunged amid the stronger US dollar as investors await the Fed’s meeting this week.
Trade ideas for June 14-18
All eyes are turning to the Federal Reserve and the US dollar. How to trade XAU/USD, EUR/USD, and GBP/USD?
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