IronFX Daily Commentary by Charalambos Pissouros | 07/04/2017
April 7, 2017 9:07 am
Investors lock their gaze on the US jobs report • Nonfarm payrolls are expected 180k (12:30 GMT). The ADP report was very strong, so we could see a higher-than-anticipated NFP number too. • The unemployment rate and earnings growth are both expected unchanged. • Overall this looks like another strong report, that could increase speculation about a summer hike by the Fed and thereby, support the dollar.
Safe havens rally after the US fires missiles into Syria • Gold and JPY rallied earlier, on reports the US launched missiles against an air base in Syria. • This was a response to a chemical attack the US says Syria carried out against its own people. • Generates lots of questions (and thus uncertainty). A one-off strike, or the first of many? • What is Russia’s response and what does this mean for US-Russian relationships? • Markets may trade in a risk-off mode. Safe havens could stay supported, as stocks underperform.
As for the rest of today’s highlights: • UK: Industrial production & trade balance (08:30 GMT), both for February. • Canada: Unemployment rate for March (12:30 GMT) is expected to have risen. We see the risks surrounding that forecast as skewed to the downside. An unchanged rate could support CAD, but since the US data seem solid too, we would avoid USD/CAD (prefer EUR/CAD). • Speakers: BoE Governor Mark Carney.
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Investors lock their gaze on the US jobs report
• Nonfarm payrolls are expected 180k (12:30 GMT). The ADP report was very strong, so we could see a higher-than-anticipated NFP number too.
• The unemployment rate and earnings growth are both expected unchanged.
• Overall this looks like another strong report, that could increase speculation about a summer hike by the Fed and thereby, support the dollar.
Safe havens rally after the US fires missiles into Syria
• Gold and JPY rallied earlier, on reports the US launched missiles against an air base in Syria.
• This was a response to a chemical attack the US says Syria carried out against its own people.
• Generates lots of questions (and thus uncertainty). A one-off strike, or the first of many?
• What is Russia’s response and what does this mean for US-Russian relationships?
• Markets may trade in a risk-off mode. Safe havens could stay supported, as stocks underperform.
As for the rest of today’s highlights:
• UK: Industrial production & trade balance (08:30 GMT), both for February.
• Canada: Unemployment rate for March (12:30 GMT) is expected to have risen. We see the risks surrounding that forecast as skewed to the downside. An unchanged rate could support CAD, but since the US data seem solid too, we would avoid USD/CAD (prefer EUR/CAD).
• Speakers: BoE Governor Mark Carney.
Join us for more technical and fundamental analysis: http://www.ironfx.com
To get the latest Forex trading news you should:
• Download the IronFX Research app: http://goo.gl/jhQIxO
• Like us on Facebook: https://www.facebook.com/IronFX
• Follow us on Instagram: https://www.instagram.com/ironfx
• Follow us on LinkedIn: https://goo.gl/wSEbPN
• Follow us on Twitter: https://twitter.com/IronFXGlobal
• Circle us on Google+: https://www.google.com/+Ironfxglobal
• Subscribe to our Channel: http://bit.ly/1foFmCU
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