United States Purchasing Managers’ Index Will Move The Dollar
United States Institute for Supply Management (ISM) will release services Purchasing Managers' Index (PMI) on October 5, 17:00 GMT+3.
USD is waiting for the jobless claims!
The US unemployment claims are announced on Thursday at 15:30 MT time.
Instruments to trade: EUR/USD, GBP/USD, USD/CAD, USD/JPY
Initial jobless claims posted each Thursday in the US became a central tool to track the pulse of the reopening process in the States – or re-closing. The last release revealed 1.31 million claims for unemployment benefits – down from 1.41 a week before. In general, it is obvious that we are seeing a gradual decrease in the number of jobless people. However, due to the latest infection spikes in the US and the cancellation/freezing of re-opening procedures in some of the states, we may see slower recovery compared to the previously observed tendency. 1.25 million is the expected figure this time.
- If the jobless claims are lower than expected, the USD will rise;
- If the jobless claims are higher than expected, the USD will fall.
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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.
Major Event Alert: Canadian Retail Sales
Canada will publish the Retail Sales and Core Retail Sales on October 22, at 15:30 MT time (GMT+3).
Weekly US employment: a chance for the USD
The United States will release the weekly Unemployment Claims on October 21, at 15:30 MT time (GMT+3).
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