Here is the digest with the most interesting news for today
How Will USD React to NonFarm Payrolls?
Information is not investment advice
What will happen?
NonFarm Payrolls data will be announced at 15:30 MT (GMT+2) on Friday, December 3.
This is vital economic data released shortly after the month ends. Job creation is an important leading indicator of consumer spending, which accounts for most of the overall economic activity.
Last time the result overperformed the expectations, but EUR/USD rose, as the risk of an earlier tapering decreased.
How to trade on NonFarm Payrolls?
- If the US NonFarm Payrolls is greater than forecast, the USD is likely to strengthen against other currencies.
- If the US NonFarm Payrolls is lower than forecast, the USD is likely to weaken against other currencies.
Instruments to trade: USD/CAD, USD/CHF, GBP/USD
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.
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.