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Today the US nonfarm payroll data will be reported that could cause fluctuations of the market. However, this information won’t reveal the real state of affairs in the USA as it’s based on the survey held during the first two weeks of March, just before the huge impact of the virus outbreak.
Anyway, it’s commonly believed that the US labor market more or less collapsed. Most banks make their predictions on how much payrolls will drop: Commonwealth Bank of Australia - 200,000, Goldman Sachs – 180,000. MarketWatch economists predict a range from an increase of 100,000 to a loss of 700,000 jobs. Moreover, April NFP data is expected to be far worse. You can see below the US nonfarm payrolls from March 2019 to February 2020.
Analysts anticipate the unemployment rate to rise to 3.8-4%. However, it won’t reflect the real deterioration of the US labor market. According to the Fed, the US unemployment could increase to 15% as economy is enormously suffering from the coronavirus.
If you want to know successful strategies of trading in the current volatile market conditions, read our article “Employment data may make the USD volatile” and join our webinar “NFP Live : trade with analyst’s help”.
Today, two events will shake the US dollar. First, at 16:45 GMT+2, Markit, a statistical company, will release the US Flash Services PMI. Moreover, at 21:00 GMT+2, the Federal Reserve will release its meeting minutes.
This Wednesday will be heaven for day traders. A considerable number of events will make the market volatile. Don't miss it!
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Good morning, dear traders! Hope you’re doing great! Let’s talk about the news that is worth following today! Key market events: 15:30 MT, CAD GDP m/m 17:00 MT, GBP BOE Gov Bailey Speaks Oil is tensed again Oil rose as China refined its approach…
Happy Friday, traders! Are you ready to trade at the end of the week? Here’s what you need to know before you start:
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