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 Update on Employment: Focus on the USD
What will happen?
The United States will release the weekly Unemployment Claims on Thursday, at 15:30 MT time (GMT+3). This indicator shows the number of individuals who filed for unemployment insurance for the first time during the previous week. This release provides the freshest insight into the situation in the US labor market. Based on its change, traders may suggest the level of the next non-farm payrolls.
How to trade on the US Unemployment Claims?
Traders need to focus on the data in the economic calendar. After the figures are published, they need to compare them with analysts’ consensus.
- If the unemployment claims are lower than the forecasts, the USD will be pushed up;
- If the unemployment claims are higher than expected, the US dollar will be pressed.
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.