Stocks surged at the start of the week
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Will the euro stand firm?
Information is not investment advice
The European unemployment rate is announced on Wednesday at 12:00 MT time.
Instruments to trade: EUR/GBP, EUR/USD, EUR/CAD, EUR/CHF
In February and March, unemployment in the EU was at 6.5%. It is the lowest over the course of more than a decade: the large downtrend started at 11.5% in 2014 and since then, it has only been making its way down to that 6.5% in spring. Now, the virus made it rise again: from 6.7% in April to 7.5% in August and September. Although the last two months have been showing the same percentages, it would not be pointless to expect a new upswing in European unemployment due to the second wave of the virus. So if the number of jobless people in the EU rises again, the EUR will likely slump. Otherwise, it will rise.
- If the jobs data is better than the expectations, the EUR will rise.
- If the figures are worse than the forecasts, the GBP will drop.
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Stocks surged at the start of the week
Jump in to get a short market wrap with fresh trade ideas!
USD strengthened as optimism waned
The market optimism waned amid stricter restrictions to control rising coronavirus infections. S&P 500 and Nasdaq dropped from the all-time highs, while the USD jumped higher.
What does the first Fed meeting of 2021 have for the USD?
The Federal Open Market Committee (a department of the Federal Reserve) will post its statement and an update on the interest rate on January 27 at 21:00 MT time
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