The GBP is going to be volatile today, while USD/TRY may be looking for a retest of its highs. Read more!
NFP: prepare to trade on the news
|NFP (US nonfarm payrolls) is an important indicator of consumer spending that accounts for the majority of overall economic activity. If there are more employed people, consumer spending will increase supporting the US economy. US labor market figures will be released at 15:30 MT time on June 1.|
|Average Hourly Earnings’ data will be out at the same time as NFP. Average Hourly Earnings is the earliest data related to labor inflation. A rise of the data means higher salaries and as a result greater spending.|
|The greenback is strongly recovering. The US dollar index has already reached highs of December 2017. For the further movement upwards it needs an additional support of the US Federal Reserve. The market anticipates two additional rate hikes this year. The Fed is anticipated to raise the interest rate at its June meeting. Encouraging economic data will increase chances of a rate hike.|
Australia will publish the level of employment change and the unemployment rate at 3:30 MT on October 17.
The escalation of the US-China trade dispute and the Brexit uncertainties keep affecting the market. Read more!
The reports that the UK and the EU are close to complete a draft Brexit deal have pushed the British pound higher.