
Fed Chair Jerome Powell will testify today at 19:05 MT time. This event is crucial for traders as the tone of the speech may set the risk tone for the markets for the next two weeks.
Don’t waste your time – keep track of how NFP affects the US dollar!
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The USA will publish unemployment claims on October 22 at 15:30 MT time. How to trade after the release?
Instruments to trade: EUR/USD, USD/CAD, USD/JPY, GBP/USD
US jobless claims are released every week. They reveal the number of people who lost their jobs and filed for benefits during the previous week. Million Americans are coming back to work after the coronavirus lockdown, but for nearly 13 million unemployment has become permanent. However, the situation is getting better. If we look at the graph below, we will notice that fewer and fewer people are asking for jobless benefits after a huge spike in April, but the numbers are still considerably higher than the pre-pandemic levels. Democrats and Republicans continue discussing the new fiscal stimulus package. They have already agreed on $1 200 stimulus checks for households, but Trump prolonged talks until after the election. Keep an eye on the release and follow the rules below.
Fed Chair Jerome Powell will testify today at 19:05 MT time. This event is crucial for traders as the tone of the speech may set the risk tone for the markets for the next two weeks.
Non-farm payrolls, the most awaited economic report, will be out on March 5 at 15:30 MT time.
Australian GDP rose by 3.1%, exceeding analysts’ forecasts of 2.5%. The Australian dollar climbed after the release, but then joined its peers in falling against the USD.
Fed Chair Jerome Powell will testify today at 19:05 MT time. This event is crucial for traders as the tone of the speech may set the risk tone for the markets for the next two weeks.
Non-farm payrolls, the most awaited economic report, will be out on March 5 at 15:30 MT time.
BoA has tracked signs of the upcoming stock market sell-off. While more expensive and at-risk stocks are set to fall, value stocks should survive.
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