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

Data Collection Notice

We maintain a record of your data to run this website. By clicking the button, you agree to our Privacy Policy.

facebook logo with graphic

Join Us on Facebook

Stay on top of company updates, trading news, and so much more!

Thanks, I already follow your page!
forex book graphic

Beginner Forex Book

Your ultimate guide through the world of trading.

Get Forex Book

Check Your Inbox!

In our email, you will find the Forex 101 book. Just tap the button to get it!

FBS Mobile Personal Area

market's logo FREE - On the App Store

Get

Risk warning: ᏟᖴᎠs are complex instruments and come with a high risk of losing money rapidly due to leverage.

76.5% of retail investor accounts lose money when trading ᏟᖴᎠs with this provider.

You should consider whether you understand how ᏟᖴᎠs work and whether you can afford to take the high risk of losing your money.

Market Wrap: US Dollar Keeps Strengthening

Market Wrap: US Dollar Keeps Strengthening

Information is not investment advice

The US dollar keeps strengthening due to the fresh Covid-19 outbreaks in some parts of the world. By the way, the US NFP report will be out already this Friday, and positive expectations are boosting the USD as well. The better the NFP outcome – the more chances the Federal Reserve might start tapering stimulus. US ADP came out better than analysts expected. This report gives an early outlook on US employment, that’s why NFP should be strong as well.

EU inflation came out exactly as forecasted: 1.9%. The number had no impact on the euro as EUR/USD keeps falling due to the strong USD.

EUR/USD has broken through the key support level of 1.1850 and edging lower to the psychological mark of 1.1800. It’s unlikely to break it on the first try, but if it does, the way down the lows of early April at 1.1750 will be clear. The RSI indicator shows that the euro gets closer to the oversold area.

EURUSDDaily.png

Oil rose ahead of the OPEC+ meeting today. The alliance is expected to increase oil output by 500,000 barrels a day. Besides, a pause in US-Iran nuclear talks drags on, and that pushes oil prices up as well.

XBR/USD is well supported by the 50-period moving average at $74.40. Today, we might expect oil to rally up to the $75.00 resistance level. The price won’t break this threshold on the first try, but when it does, the way up to $75.50 will be open.

XBRUSDH4.png

Canadian GDP dropped less than anticipated, which is a positive factor for the Canadian dollar. Thus, we might observe the CAD rises against other currencies except for the strong USD. USD/CAD is edging higher despite this positive data. For example, if you open GBP/CAD or CAD/JPY, you’ll see that the CAD is rising.

By the way, there is an interesting situation on the USD/CAD chart. The Cup and Handle pattern has almost occurred. It would be complete when the price reaches the 1.2470 mark. When it breaks this resistance level, it will rally up to the late-April highs of 1.2600. Support levels are the 100-day moving average of 1.2380 and the low of June 25 at 1.2300.

USDCADDaily.png

LOG IN

Similar

Will the Fed Surprise Investors?

The Federal Reserve will make a statement regarding the future monetary policy on Wednesday, June 15, at 21:00 MT time (GMT+3).

Popular

How Will US PMIs Affect the USD?

The US Markit will publish Flash Manufacturing and Flash Services PMIs (purchasing managers' indices) on June 23 at 16:45 GMT+3.

Will Fed Chair Powell Move the USD?

The Fed Chair Jerome Powell will testify on the Semi-Annual Monetary Policy Report before the House Financial Services Committee on June 22-23 at 17:00 GMT+3.

Choose your payment system

Be on top of your game

Callback

Please fill in the form below so we can contact you

Select the best time for us to call you. We give calls from Monday to Friday in suggested intervals. In case we couldn't get through, we will try again at the same time the next day. For getting real-time assistance, use FBS chat.

We provide only English-speaking callbacks. If you prefer any other languages, contact the support team.

We will call you at the time interval that you chose

Change number

Your request is accepted.

We will call you at the time interval that you chose

Next callback request for this phone number will be available in 00:30:00

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later