The USD is little changed after the weaker than expected non-farm payroll report on Friday (especially the revisions) and the subsequent firing of the BLS commissioner. Who would've thought? /S
IN the video above I take a look at the technicals that are driving the major currency pairs - the EURUSD, USDJPY and GBPUSD - to kickstart the US session.
In follow-up to last week, Pres. Trump did say that they would announce a new head of BLS the next three or four days. Trump will also be looking to announce a new that Gov. after Adriana Kuglers resignation effective August 8. . NY Fed Pres. William said that he would have an open-mind in regard to a September rate decision.
The week the Bank of England will announce her interest rate decision on Thursday. The market is expecting a 25 basis point cut. After the weaker US jobs report, the initial jobs claims may lead to some additional focus. Recall the initial claims moved up to 250K but then rotated back down toward the lows of recent data near 220K. It doesn't necessarily support the jobs report released on Friday. The Canadian employment data will be released on Friday. Below summary of the key events this week:
Monday, Aug 4
CHF CPI m/m: actual 0.0% (vs. -0.2% forecast, 0.2% previous)
Tuesday, Aug 5
USD ISM Services PMI: estimate 51.5 (vs. 50.8 previous)
NZD Employment Change q/q: estimate -0.1% (vs. 0.1% previous)
NZD Unemployment Rate: estimate 5.3% (vs. 5.1% previous)
Thursday, Aug 7
GBP BOE Monetary Policy Report
GBP Monetary Policy Summary
GBP MPC Official Bank Rate Votes: 0–8–1 (vs. 0–3–6 previous)
estimate GBP Official Bank Rate: estimate 4.00% (vs. 4.25% previous)
USD Unemployment Claims: estimate 221K (vs. 218K previous)
Friday, Aug 8
CAD Employment Change: estimate 15.3K (vs. 83.1K previous)
CAD Unemployment Rate: estimate 7.0% (vs. 6.9% previous)
Earnings this week:
Monday
PalantirTuesday
Pfizer, Caterpillar, BP, AMD, Super Micro ComputerWednesday
Uber, Shopify, ApplovinThursday
Lilly, ConocoPhillips, TwillionLooking at the US stock market, the major indices are correcting modestly higher after Friday sharp declines
Dow +177.25 pointsS&P index +30.49 pointsNASDAQ index +161.95 pointsin the US debt market, yields are mixed after Friday's sharp decline:
2-year yield 3.691%, -1.2 basis points5year yield 3.765%, -0.5 basis points10 year yield 4.225%, +0.6 basis points30 year yield 4.830%, +2.3 basis points This article was written by Greg Michalowski at investinglive.com.Hence then, the article about the us dollars little changed after the friday fireworks from nonfarm payroll trump was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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