The Federal Reserve will release its statement at 21:00 MT time (GMT+2). Jerome Powell's press conference will follow at 21:30 MT time. How will this event influence the USD, Forex majors, and gold?
Trading plan for March 8
Information is not investment advice
Markets are waiting for the NFP release (15:30 MT time). The forecast is weak. As a result, the USD has been suffering ahead of the event. However, the situation may differ if the actual data is greater than the forecast. It's not a secret that the American jobs release will cause high volatility on markets. Be careful!
Canadian jobs data is also in the economic calendar. The time of the release is similar to the American one. Not a good idea to trade USD/CAD but you can consider other currency pairs such as CAD/JPY.
The USD is strengthening, while S&P 500 and NASDAQ paused their advance. Traders and investors worry that the US fiscal stimulus won't arrive soon. The video contains our trade ideas, what are yours?
EUR/USD has been rising since morning, but the further rally is limited by the 200-peiod moving average at 1.2190. Gold is flirting with the $1 850 level.
The drivers, the assets, and the releases you need to focus on this week