US Job Reports – Will The Market Even Care?
These days there are so many distractions and events affecting a diversity of financial zones that it seems like the US Jobs Reports which is scheduled for this Friday May 06 may be a damp squib.
Traditionally we can expect some serious volatility as the markets scramble to assess the data for clear direction.
Last Week’s Fed Announcement
The Feds actions last week hinted to a possible Interest rate hike in June and even then that was tepid referral and to be honest I don’t buy it and neither does the market. Ahead of the Presidential elections, 6 months down the road, it’s becoming political so if it doesn’t happen in June – I believe it isn’t happening for at least 6 more months.
Last week’s start for the Euro was a strange one and it initially appeared to be under pressure. That soon changed by mid-week as it became apparent once FOMC confirmed no interest rate hike on the Greenback and the ISM report gave it the little boost it needed. Today, May 2nd, the EURUSD broke above 1.15 for the first time Since August last year.
So Much Is Happening. Now what?
Wherever you look around the globe there is something going on that affects the markets. For example, the Japanese markets have taken a hammering the last few days as the BOJ statement to leave monetary stimulus unchanged. This has been not at all helpful to jump start inflation, which is needed to provide stimulus for Japanese exports; the very backbone of the Japanese economy.
Oil appears to be under pressure again and the pundits are talking about the breaching of the $30.00 per barrel price in the near future. ISIS is on the march and nobody has any idea what they will do next. it’s all very scary.
The Aussie has strengthened the last 2 trading sessions against its U.S. counterpart as investors looked ahead to a meeting of the (RBA) Reserve Bank of Australia, set for Tuesday afternoon. A few other announcements are scheduled for later in the week but nothing much worth noting. Except of course the US and Canadian Jobs Reports scheduled for this Friday.
Now For The Good News
With so much Forex excitement, the volatility index has gone up and Forex traders rely on volatility to profit. As always, our trading team at ForexSignal.com is scouring the market for Forex trading opportunities. Our reliable Forex signal service provides signals to your email and phone, ensuring that you are always notified.
For those who are too busy to trade, our Trade Copier service is available which automates our signals directly to your trading platform. We are happy to help you with the simple setup process and get you ready for the very next trade.
We wish you a happy and profitable trading week.
Leave a Reply
You must be logged in to post a comment.