
The most impactful releases of this week will fill the market with volatility and sharp movements. Be ready to take action!
The United States will publish the Initial Jobless Claims on Thursday, December 30, at 15:30 GMT+2 (MetaTrader time).
Unemployment indicators can tell traders a lot about a country’s economic health. For example, initial Jobless Claims show how many people filed for unemployment insurance for the first time during the past week. A high number means that more Americans can’t get a job, and the US economy has problems. Although this indicator alone won’t make the Federal Reserve change its policy, it adds to other figures that create the general economic picture. In the short term, the release can influence the price of the US currency. For example, a higher Initial Jobless Claims figure makes traders sell the USD, and the USD goes down. On the contrary, a lower number is good for the American economy and stronger USD.
On December 9, Initial Jobless Claims came out lower than expected. The indicator was 184K versus the forecast of 218K. EUR/USD fell from 1.1317 to 1.1280 a couple of hours after the release.
Note that EUR/USD falls when the USD rises as the USD is a quote currency.
Open the economic calendar a few days before the US Initial Jobless Claims release. Check the forecast and the previous numbers. Overall, Initial Jobless Claims have been declining since the start of 2021. The market will likely expect this trend to continue. Wait for the actual result to come out.
Instruments to trade: all the major pairs and XAU/USD
The most impactful releases of this week will fill the market with volatility and sharp movements. Be ready to take action!
We prepared an outlook of major events of this week. Check it and be ready!
Welcome to the first week of October! As usual, at the start of the week, we are looking for valuable insights that will bring us profits in trading. Let’s observe the main events.
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Don’t waste your time – keep track of how NFP affects the US dollar and profit!