Will the USD grow with the US labor market?

Will the USD grow with the US labor market?

The US unemployment claims are out on Thursday at 15:30 MT time. 

Instruments to trade: EUR/USD, GBP/USD, AUD/USD, USD/CAD

The labor market is what makes the American economy robust and gives it endurance and prosperity. Keeping the hand on the pulse of the employment dynamics in the US gives you the right direction in drawing correct fundamental perception of the American economy and make projections on the long-term horizons for the USD. The initial jobless claims announced weekly in the US affect the Forex market quite intensely, so watch this indicator: if there is any sign that the mild recovery curve is distorted, it will press on the greenback; otherwise, healthy figures above the forecast will make it rise. 

  • If the figures exceed expectations, that may push the USD.
  • If the labor market underperforms, the USD may go down.

Check the economic calendar

US Jobs.jpg

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The main market tendency today is that the US dollar is rising against its major peers and riskier assets such as stocks and oil are plummeting.

Latest news

ECB report is in focus
ECB report is in focus

The European Central Bank will publish the monetary policy statement with the interest rate decision on January 21, at 14:45 MT time. 

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Don’t waste your time – keep track of how NFP affects the US dollar and profit!

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