
The US Services PMI will be out at 17:00 MT time on March 3.
Don’t waste your time – keep track of how NFP affects the US dollar!
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The report will be out on Tuesday at 17:00 MT time!
Instruments to trade: EUR/USD; USD/JPY; GBP/USD; USD/CAD
The US CB consumer confidence simply shows how much money people intend to spend these days buying goods and services. The more people consume – the more products are sold. As a result, an economy prospers. Obviously, people are going to buy less and save more amid the coronavirus pandemic, especially now when the second virus wave has engulfed most of the US states. The market reaction depends on whether actual numbers exceed expectations or not. It is so good that traders have an opportunity to open both buy and sell positions. October’s report revealed that people were going to spend less than analysts expected, that’s why the USD dropped. Remember the rules below and follow the release!
The US Services PMI will be out at 17:00 MT time on March 3.
The Reserve Bank of Australia will make a rate statement on March 2, at 5:30 MT time.
Risk assets are recovering after a losing streak in the previous week as progress in the extra US stimulus package improved the market sentiment.
The US Services PMI will be out at 17:00 MT time on March 3.
On Saturday, the US Food and Drug Administration approved Johnson&Johnson’s vaccine for emergency use against Covid-19. Will JNJ rise?
The Reserve Bank of Australia will make a rate statement on March 2, at 5:30 MT time.
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