Focus on Thursday's NFP release
Important news for the day
- Tue, 01st, 16:00 CET US ADP Employment Change
- Wed, 02nd, 14:15 CET CH Consumer Price Index
- Thu, 03rd, 14:30 CET US Nonfarm Payrolls / Unemployment Rate
- Thu, 03rd, 16:00 CET US ISM Services PMI
Market talk
The previous US ISM manufacturing data exceeded expectations - a positive signal for the US economy. Nevertheless, the US dollar remains weak as rate cut expectations persist and global risk sentiment is positive. The Australian dollar is benefiting from this: AUDUSD is considered a risk and commodity currency and often moves in bullish market phases. This week's publication could therefore continue to be exciting. In addition, further important labour market data will follow with the NFP data from the US. On Thursday, the focus will be on the US NFP data. If they are also weak, the dollar could lose further ground - but falling inflation expectations and a lack of crisis fears limit the potential for precious metals such as silver. Traders should be cautious as the last trading day of the month might offer fresh volatility today.
Author
Frank Walbaum
FX Strategies.Asia
Frank has been working in the TV business for several years. Acquiring his skills in Germany’s biggest broadcasting station, he then chose to work and live in Asia, which was in 2007.
