Several largest American companies will publish their financial results this week. BTCUSD and XAUUSD are skyrocketing. What's going on in the markets?
March NFP: forecasts and opinions
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”.
The dollar's status as the world's reserve currency could only be recovered if the US controls its spending. The huge budget deficit and rising interest rates on the US national debt should scare every American, analysts say. Read the full report to learn more!
Chinese investors are selling the UST. Meanwhile, the earning season continues. What's going on in the markets?
The Japanese yen fell to its lowest level against the US dollar in 33 years. Read the full report to learn the next target for USDJPY!
The US stock market fell in the third quarter. What's going on and why economists think that the last quarter will be better? Let's discuss it all here.
BlackRock CEO forecasts the Fed may have to raise rates further. The US dollar index (DXY) gains 130 points today. Read the full report to get more fresh news and technical analysis!