Wednesday April 5, 2017 - 17:26:21 GMT
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Forex Trading Ideas For Thursday 6 April 2017
Trading Ideas for 6 Apr 2017
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WEEKLY Forex Economic Calendar:
6 Apr Thu
12:30 US- Weekly Jobless
7 Apr Fri
12:30 US/CA- Employment
Items likely to drive the FX rates:
- EVENT RISK: Late today in the U.S. will see the FOMC meeting minutes from the October 15 FOMC meeting where it was decided to hike the Fed Funds target by 25bp. Minutes often include new news as often the Minutes are "shaped" to encompass latest developments.
- Global Service PMIs. Eurozone Service PMIs saw some downward revisions to stromg flash data. The Service sector tends to dominate in most developed economies. The key U.S. ISM Service PMI was considerably weaker than expected.
- The first item in the U.S. monthly employment data is the ADP private employment estimate which is based on the payroll data it actually processes. Is showed a stronger than expected gain of 263K in April (+189K expected). This compared to a revised +245K in February.
- Then on Friday, the government releases its official jobs data. because of its detail, this is by far the most important U.S. economic report of the month. Street estimates are for a gain of 175K in the month vs. +235K in February. Odds are street estimates are too low.
Lots to consider. Please comment...
co-founding Partner, Global-View.com
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