Friday Trades: EUR/USD, USD/JPY, and Gold
The overall market sentiment is risk-on. The S&P 500 index (US 500) is getting close to the all-time high. Oil is recovering quickly from its recent losses.
The USD to get boosted by the US labor market?
What will happen?
On Thursday, February 25, at 15:30, the initial jobless claims will be published in the US. It’s a regular data release similar to the NFP but less of an impact. Yet, it provides first-hand information on the US labor market dynamics, and as such, defines the moods of the USD traders and investors.
How to trade it?
While the general trend has been the gradual reduction in the number of unemployment claims in the US, the actual figures exceed the expectations from time to time. A slight over- or underperformance may not bring any substantial impact on the course of the USD. However, an unexpectedly big deviation, especially to the lower side, makes the USD go down.
- If the actual data is better-than-thought, the USD goes up;
- Otherwise, it goes down.
Instruments to trade: EUR/USD; GBP/USD; USD/CAD; AUD/USD
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