Turkey’s central bank governor was at a crossroads: to hold interest rates and take a risk to be fired like it was for three governors before him, or to comply with the president, to cut rates, and to risk the market. Let’s find out, how to react to the rate cut.
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
Great Britain will publish its trade balance for April on June 11, at 09:00 MT time.
Once in a month, the euro has a very special day of increased volatility at the start of the European trading session.
What will happen? ECB will report its Monetary Policy statement at 14:45 MT (GMT+3) on Thursday, October 28…
What will happen? BOC will report its Monetary Policy statement at 17:00 MT (GMT+3) on Wednesday, October 27…
What will happen? Australian Bureau of Statistics will announce Core PCE Price Index at 03:30 MT (GMT+3) on Wednesday, October 27…