Thursday April 6, 2017 - 08:47:30 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: Comments today by ECB Chief Draghi have upset the markets today after he took a surprisingly dovish tone. His comments on inflation and interest rates stand in contrast to the more hawkish (German) policy board members. Just yesterday, the latest FOMC minutes had a hawkisk bias.
- 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. It showed a stronger than expected gain of +263K in April (+189K expected). This compared to a revised +245K in February.
- 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. Recently traders have been focused more on average holy earnings, which have been flat at 0.20%/mo for as far back as the eye can see.
Lots to consider. Please comment...
John M. Bland, MBA, co-founding Partner, Global-View.com
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