What events to follow and how to trade during the week of July 2-6?
US NFP came below forecast
US nonfarm payrolls showed that the US economy added 98K of new jobs in March. That’s less than the forecast of 174K.
At the same time, American unemployment rate declined from 4.7% to 4.5%. Average hourly earnings showed stable growth of 0.2%.
US dollar index (DXY) fell from 100.80 towards 100.40.US dollar index (DXY) fell from 100.80 towards 100.40.
EUR/USD retraced to 1.1870 after breaking out this level. It should be just a natural sell-off ahead of the further rally up.
The Fed held a much-awaited meeting yesterday. The bank hasn’t made any policy changes. As a result, the USD weakened and EUR/USD rocketed. Jump in to know all the latest news!
Our analyst discusses the latest news and shares his trade ideas on gold, EUR/USD, and S&P 500. Jump in!
The Bank of England will publish a monetary policy statement and update on the interest rate on Thursday, at 14:00 MT time.
The Reserve Bank of Australia (RBA) will hold a meeting and announce changes to the monetary policy on August 3, at 07:30 MT time (GMT+3).