The Fed is ready to start tapering in November. Since the markets were expecting this and it wasn’t a surprise, the USD slumped allowing risk-on currencies and gold to rally up.
Non-Farm Payrolls are coming!
The US Non-Farm Payrolls will be announced on Friday at 15:30 MT time.
Instruments to trade: EUR/USD, USD/CAD, USD/JPY, GBP/USD
The last Non-Farm Payrolls release was bad. The American labor market saw a 140K decline in the number of jobs against an expected 71K rise. The hit was aggravated by the very fact that it’s the first decline in the job dynamic since the beginning of the recovery that started roughly nine months ago. On the other hand, that cooled down the market expectations. The forecasters are now seeing the negative 200K as the most probable report this Friday. If the actual number is better than this, the dollar will likely leap. Otherwise, it may turn out to be a sad indication of a slowing down recovery in the US.
- If the Non-Farm Payrolls data is better-than-thought, the USD will get up.
- Otherwise, it will fall.
US Retail Sales will be out on October 15 at 15:30 MetaTrader time (GMT+3).
The crypto market keeps recovering. Bitcoin has broken above $57,000. The way up to $60,000 is open now!
The US dollar is heading to close the seventh day in the red as it remains under selling pressure. The US data at 15:30 GMT+3 (jobless claims and Philly Fed Manufacturing Index) may support the greenback if it's strong.
Canada will publish the Retail Sales and Core Retail Sales on October 22, at 15:30 MT time (GMT+3).
The United States will release the weekly Unemployment Claims on October 21, at 15:30 MT time (GMT+3).