An index that will rock USD
The United States will publish the ISM Non-Manufacturing PMI on Thursday, January 6, at 17:00 GMT+2 (MetaTrader time).
The US jobless claims!
The US unemployment claims are announced on Thursday at 15:30 MT time.
Instruments to trade: EUR/USD, USD/CAD, USD/JPY, GBP/USD
Since the second week of October, the number of initial jobless claims has never exceeded 800K in the US. The average values have been revolving around the channel of 750-780K throughout the latest weeks. On a large scale, there is a clear recovery path that the US labor market has been gradually following since the record peak of unemployed people in April. However, this is not what may move the USD in the short term: the market expectation is. Therefore, what you have to look for is whether the market will be “amused or not amused” with the actual number of initial jobless claims as compared to the expectation. If it is better than the forecast, the USD will get stronger. If not, the dollar may soften.
- If the data is better-than-thought, the USD will be boosted.
- Otherwise, it will fall.
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The Federal Reserve (FOMC), US central bank, will publish its December meeting minutes on Wednesday, January 5, at 21:00 GMT+2 (MetaTrader time).
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