The British monthly GDP is announced on Friday at 09:00 MT time.
The NFP Friday is coming!
The Non-Farm payrolls are announced on Friday at 15:30 MT time.
Instruments to trade: EUR/USD, USD/CAD, USD/JPY, GBP/USD
The US workforce increased by 639K in October – that came a little lower than the September figure but still, it was better than the expected range of 510-600K. On a larger scale though, it is the smallest number since the recovery has started making its way through the crisis in April-May. The expectation for the coming figure is higher than the one before and goes beyond 600K. Therefore, if the market gets a positive surprise, the USD will be pushed.
- If the data is better-than-thought, the USD will be boosted.
- Otherwise, it will fall.
The main market tendency today is that the US dollar is rising against its major peers and riskier assets such as stocks and oil are plummeting.
The US unemployment claims are out on Thursday at 15:30 MT time.
The European Central Bank will publish the monetary policy statement with the interest rate decision on January 21, at 14:45 MT time.
Joe Biden is going to unveil a Covid-19 relief package of about $2 trillion. After this announcement, the 10-year Treasury yield rose, adding support for the USD.
The US dollar’s weakness offered a boost to emerging-market currencies and oil.