The GBP may be supported
Great Britain will publish its trade balance for April on June 11, at 09:00 MT time.
Job data for Canada: a relief or another disappointment?
What will happen?
Canada will publish employment change and an unemployment rate on Friday, at 15:30 MT time. While employment change represents a change in the number of employed people during the previous month, the unemployment rate stands for the percentage of the total workforce that is unemployed and actively seeking employment during the previous month.
How to trade on the Canadian job data?
As the country tightened restrictions to curb coronavirus, employment levels dropped massively in January. While employment change fell by 212.8K, the unemployment rate rose to 9.4% (the highest level since September). Despite this negative news, the release was overshadowed by the disappointing NFP. As a result, the CAD strengthened against the USD but fell against other currencies.
- If the employment change is higher, and the unemployment rate is lower than the forecasts, the CAD will get a boost;
- In case of an alternative scenario, expect a drop of the CAD.
Instruments to trade: USD/CAD, EUR/CAD, GBP/CAD
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The pack of PMIs to boost the euro
Once in a month, the euro has a very special day of increased volatility at the start of the European trading session.
Volatility for the EUR is coming
Eurozone, France, and Germany will publish the flash services and manufacturing PMIs on February 19, from 10:15 to 11:00 MT time
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