5.07 - will USD be the reason for a horrible turbulence today?
- by Anna K.
We started this week with the greenback so it is only fitting that we are going to finish it with the greenback. Especially given that after a day-off yesterday, today the USA are going to shake up our trading. Seems that the government of the USA care not about the state of our trading as today we are going to see three extremely important reports at once. And it Is possible for USD to improve its performance and finish the week on a high note, especially when paired with EUR as euro can only dream about good reports at the moment. But we talking about USD. Here is what the performance of dollar looked like against the basket of six major rivals through this trading week.
Not the most stable picture, right? Well, that is what we have. It could have been worse. But the week is not over yet and we are faced with the possibility to see USD decline further or recover completely. Today we are waiting for Average Hourly Earnings m/m [leading consumer inflation indicator],Non-Farm Employment Change [consumer confidence indicator] and Unemployment Rate [can show us overall economic health]. Imagine the impact that these three can have on our trading today as well on the USD performance.
Given that US job growth is expected to have rebounded, good numbers as well surge of the greenback is not guaranteed.
Use your trading signal for all USD-dependent assets to be sure.