The US Bureau of Labor Statistics will release its Consumer Price Index and many other critical events that will move the market this week!
Will the European labor dynamic boost the EUR?
The European unemployment rate will be announced on Thursday at 12:00 MT time.
Instruments to trade: EUR/GBP, EUR/USD, EUR/JPY, EUR/CHF
As the businesses are reopening in the Eurozone, so are the labor statistics expected to bring positive changes to the picture. The unemployment rate was down to 6.4% in February and March, then it rose to 6.6% in April. The end of the second quarter is forecast to show a 7.2% of unemployed people in European countries. Hopefully, lifting the restrictions will improve the picture to ensure that indeed the economy in Europe had passed the bottom of this crisis as it was reported lately.
- If the European labor market improves, the EUR will rise.
- Otherwise, it will fall.
This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.
S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.
The United States Bureau of Labor Statistics will publish the US Consumer Price Index (CPI) m/m on January 12 at 15:30 GMT+2. The index measures a change in the price of goods and services purchased by consumers.