The market takes breath after the long rally. What opportunities do traders have today?
USD: the market awaits US GDP & unemployment claims
The US final GDP and unemployment claims will be published on June 25 at 15:30 MT time.
Instruments to trade: EUR/USD; USD/JPY; GBP/USD; USD/CAD
The gross domestic product is the most significant economic indicator. It reveals the broadest picture of economic activity and financial health. Together with unemployment claims these indicators will help traders to assess current economic conditions and the real state of the US economy. This event will make the market really volatile. In normal conditions the US dollar will gain, if the data comes better than expected. However, now the US dollar is a safe-haven currency and it tends to rise, when the data is dire.
Catch the move and join the market flow to get profit!
The United States will publish a weekly update on unemployment claims on July 9, at 15:30 MT time.
The market sentiment deteriorated amid increasing virus cases in the USA and Australia. Investors prefer safe-haven assets like gold, the US dollar and the Japanese yen.
Riskier currencies and stocks are in favor of investors. Surprisingly, gold rallies too. Let’s have a closer look.
Congratulations! Gold has just opened a new era... or, rather, reopened...
Canada will publish the employment change and the unemployment rate on July 10, at 15:30 MT time.