Here is the digest with the most interesting news for today
Big day for USD
Information is not investment advice
The US NFP will be published on August 7 at 15:30 MT time.
Instruments to trade: EUR/USD, USD/JPY, GBP/USD
Needless to say, the NFP is the most important economic indicator for all traders. It’s a widely awaited event because it creates the huge market volatility. Therefore, traders have a quite rare opportunity to see really enormous price movements. Non-farm payrolls reveal a change in the number of employed people during the previous month, excluding the farming industry. The employment slumped by a total of 22.2 million in April and March. Indeed, the USA was suffering from the worst time of the coronavirus pandemic. These days the labor market is gradually bouncing back, but it will take a lot of time to reach a full recovery. Moreover, the number of new virus cases in the country is still increasing at the record pace. That’s why it’s almost impossible to predict what the NFP will be this time. Catch the market movement!
- If the NFP is better than expected, the USD will surge.
- If the NFP is worse than expected, the USD will fall.
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Markets never sleep! Let’s be prepared for a beautiful trading experience by looking at the most important news of Tuesday!
The first week of November promises to be eventful, as we have the Fed meeting, the BOE update, and the NFP release. Read more details here.
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The most impactful releases of this week will fill the market with volatility and sharp movements.
Happy Tuesday, dear traders! Here’s what we follow:
Labor Market and Real Estate Market data was published yesterday. Markets are slowing down, so the economy is in recession. Today the traders should pay attention to the Retail sales in Canada.