The US Non-farm payrolls, also known as NFP, will be published on April 3, at 15:30 MT time.
UK pound rallies on retail sales
On Thursday, the British pound managed to ascend to the maximum of this trading session after the publication of data that the volume of retail sales in Great Britain beat forecasts in May because of good weather as well as royal wedding.
The currency pair GBP/USD inched up about 0.49% hitting 1.3442 from the previous outcome of 1.3396 before the report was uncovered.
According to the National Statistical Office, in May, the volume of retail sales in Great Britain tacked on considerably surpassing forecasts by about 1.3%. April’s data was updated upward to nearly 1.8%.
British customers shelled out more money on household goods and food before the wedding of Prince Harry and American performer Megan Markle. Besides this, the soar in expenses can be also explained by good weather in the middle of May.
Moreover, according to the report, the UK economy is gaining momentum once again after a steep slowdown because of previous bad weather conditions.
The UK currency soared in the face of the depreciation of the greenback, rebounding from the positions hit yesterday after the second lift in the Fed's interest rate in 2018 as well as more hawkish statements in favor of tightening monetary policy. The Fed stressed it’s about to double the interest rate in 2018 once again.
The Federal Reserve illustrated the situation in the American labor market as positive. Simultaneously, economic activity in America is steadily going up.
The US dollar index, evaluating the purchasing power of the American currency against six main counterparts, lost 0.29% showing 93.29.
Market participants are still concerned that the Trump administration is about to impose duties worth about $50 billion on China’s goods. The Chinese government warned the United States that similar actions are going to be taken in response to US goods.
The United States will publish ISM manufacturing PMI on April 1, at 17:00 MT time.
Canada will publish the monthly GDP growth on Tuesday, at 15:30 MT time.
WTI oil prices jumped up after Donald Trump’s 2 tweets
Today the US nonfarm payroll data will be reported that could cause fluctuations of the market.
WTI was at $20 per barrel just in the beginning of the day. Currently - above 25$.