Last week was very interesting for the markets, as we saw the releases of the US Inflation and Disney’s earnings report. So let's see what we should await this week!
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
The US Bureau of Labor Statistics will announce average hourly earnings, nonfarm employment change (NFP), and the unemployment rate on July 8, at 15:30 MT time.
The Federal Open Market Committee, a committee within the Federal Reserve, will reveal a detailed record of the central bank’s last meeting on July 6 at 21:00 MT.
The Reserve Bank of Australia will announce its cash rate and make a statement about future rate policy on Tuesday, July 5, at 07:30 MT.