The United States will release the advance GDP growth rate for the previous quarter on July 30, at 15:30 MT time.
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.
The Australian Monetary Policy Meeting Minutes are announced on Tuesday at 04:30 MT time.
Thursday ended with the EUR/USD being high above of local resistance of 1.10. What's the target now?
The US NFP will be published on August 7 at 15:30 MT time.
The market sentiment is indeed risk-on today. Stocks, riskier currencies and gold are rising amid the waning US dollar.
Follow the BOE monetary policy and rate statements on August 6 at 14:00 MT time…