Fresh from the July 4th Independence Day Holiday and with many forex traders taking a long weekend, the key NFP report for June will be released. Following last month’s disappointing reading, expectations for a rebound are high. Sentiment was dampened after Wednesday’s ADP report disappointed. Will June’s report showed a headline figure below 100K as it did in May? How will the USDCAD react if today’s employment data disappoints? Expectations for the US Fed to cut interest rates in July are high and a weak NFP report may cause the central bank...
One of the main fundamental events for Forex traders this week will be the release of fresh labor statistics from the US, coming out this Friday. NonFarm Payrolls, Average Hourly Earnings, and Unemployment Rate can have a significant impact on the US currency. NonFarm Payrolls Last data: 75K Consensus forecast: 160K The June report will have a greater impact than usual due to the volatility of the average NFP over the past four months. 312K of new jobs in January brought a three-month offset of the average figures to 245K - the best...
Forex traders will get a light economic calendar today as the US is closed for trading due to the July 4th Independence Day holiday. Given the overall global economic slowdown, most analysts now predict that the US central bank will cut interest rates as soon as this month. As Trump continues to rage with his trade and tariff wars, the EU and Vietnam are next on his list as both signed a new trade deal this Sunday which was the first one the EU entered into with an emerging economy. Eurozone retail sales will be in focus today and could...
Today’s focus for British Pound trades will be the release of PMI data as well as speeches given by Bank of England MPC members Cunliffe in Lisbon and Broadbent in London. Many forex traders will await if Boris Johnson, currently in the lead to become the next UK Prime Minister, will be able to take it all the way and secure the top job in UK politics. The GBPUSD has been sliding to the upper band of its horizontal support area, will bulls launch a short-covering rally? Subscribe to the PaxForex Daily Fundamental Analysis for free and get the...
Forex traders will get another dose of PMI data out of the Eurozone, Services PMI and Composite PMI will be released after Monday’s Manufacturing PMI data which came in below expectations. Will today’s data follow suit and drag the Euro lower or will it surprise to the upside? The EURAUD is in a corrective phase which is taking a breather after the RBA cut interest rates by 25 basis points to 1.00%. Will bears get the data they need in order to extend the sell-off? Investing in forex offers traders a profitable income stream, sign-up today to...
