Today the focus is on the US labor data and the ECB President’s speech.
German Monthly Retail Sales. Forecast: 5.0%. A better-than-expected figure may push EUR.
Assets to trade: EUR/GBP, EUR/USD, AUD/EUR
US Non-Farm Payrolls are announced. Forecast: 700K. If the actual number is greater, the USD will likely gain value.
Assets to trade: EUR/USD, USD/JPY, GBP/USD
Canadian Monthly Building Permits are published. Forecast: -0.3%. Higher-than-thought results may lift CAD.
Assets to trade: USD/CAD, AUD/CAD, CAD/CHF
The German Final Manufacturing PMI was slightly higher than the forecast, scoring 65.1 against a forecast of 64.9. Affects EUR
The British Final Manufacturing PMI resulted as slightly lower than the forecast. Affects GBP
US Initial Jobless Claims were reported to be 364K against the expected 388K. Affects USD
While investors are waiting for the Friday NFP report, the US dollar is notably strong against its peers. Mostly, it is due to the overall optimism related to the US and European economic recovery.
It is most easily observable with USD/JPY. The pair has been following a steady uptrend channel lately. If the jobs data reported by the US labor authorities is upbeat, we believe this pair may eventually go far above 112.00.
Until recently, gold has been going flat below 1790. However, at the moment, it’s in an upswing which may finally break the resistance level of 1790.
The Facebook stock price is in a downward correction now. Most probably, it will end at 340, where the price is likely to bounce off the support line and continue the main uptrend.