The United States will release the weekly Unemployment Claims on October 21, at 15:30 MT time (GMT+3).
Traders await NFP
US Non-Farm Employment Change, also known as Nonfarm Payrolls or NFP, will be released at 15:30 MT time on October 5.
The indicator shows how many jobs were created in the United States during the last month. It’s released together with the unemployment rate and the average hourly earnings indicators. All 3 of these indicators have a great impact on the USD.
The last time, on September 7, NFP came out at 201K (readings close to 200K are considered to be strong), and wage growth accelerated to 0.4% (this is the change in average earnings index). The slight disappointment with the unemployment rate didn’t spoil the picture. Traders bought the US currency on the news, and the USD rose versus all major currencies.
• If the NFP indicator is bigger than expected, the USD will go up.
• If the NFP indicator is smaller than expected, the USD will go down.
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.
US Retail Sales will be out on October 15 at 15:30 MetaTrader time (GMT+3).
Last week was full of surprises! Stock indices have shown significant growth…
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).