Last week was very interesting for the markets, as we saw the releases of the US Inflation and Disney’s earnings report. So let's see what we should await this week!
The USD Awaits Key Jobs Data
What will happen?
The United States will publish the non-farm employment change, also known as non-farm payrolls or NFP at 15:30 MT (GMT+3) time on August 6.
The NFP is considered one of the leading indicators of employment that represents the economic activity of the country. Additionally to this measure, you need to pay attention to the level of average hourly earnings and the unemployment rate released at the same time as NFP. Last time, the indicator significantly outperformed the forecasts (850K vs 725K expected). At the same time, the unemployment rate rose to 5.9%, above the forecast of 5.6%. These figures made the USD turbulent.
How to trade on the Non-Farm Payrolls?
Follow the economic calendar and compare the actual figures with the consensus given.
- If NFP and the average hourly earnings are higher and the unemployment rate – lower than the forecasts, the USD will rise;
- If the situation is different, the USD will fall.
Instruments to trade: EUR/USD, GBP/USD, USD/JPY
The volatility that the markets experienced last week promises the second tidal wave! What should your favorite assets anticipate during the first week of February?
The US will reveal Non-farm payrolls on January 7, Friday, at 15:30 GMT+2 (MetaTrader time).
The US Bureau of Labor Statistics will announce average hourly earnings, nonfarm employment change (NFP), and the unemployment rate on July 8, at 15:30 MT time.
The Federal Open Market Committee, a committee within the Federal Reserve, will reveal a detailed record of the central bank’s last meeting on July 6 at 21:00 MT.
The Reserve Bank of Australia will announce its cash rate and make a statement about future rate policy on Tuesday, July 5, at 07:30 MT.