Wednesday will please traders as many economic indicators will be out! The USA, UK, and Euro Area will release PMI reports on June 23 from 10:15 to 16:45 MT.
Weekly employment data for the US: what to expect?
What will happen?
The United States will release the weekly Initial Jobless Claims on May 13, at 15:30 MT time. This is the earliest economic data of the country that reports the number of people who claimed unemployment insurance for the first time during the previous week. The number of unemployed people is an important signal of overall economic health. That is why the release may bring short-term volatility to the US dollar.
How to trade on the Initial Jobless Claims?
Check the economic calendar, which contains the expectations of analysts.
- If the actual figures are lower than the forecasts, the USD will strengthen;
- Alternatively, higher-than-expected figures will make the US dollar weaker.
Instruments to trade: EUR/USD, GBP/USD, USD/JPY
Last week the USD soared versus other major currencies, while gold headed for the biggest weekly loss in 15 months. Let’s see what new moves await us this week!
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Good news for FBS Traders! Top UK stocks have been just added to our platforms: MetaTrader 5 and FBS Trader App.