The EUR/USD pair on the back of the the European Central Bank’s decision to keep rates unchanged at their meeting today, moved upwards for a very brief moment in time. Nevertheless euro zone inflation was on the back of the minds of all traders and investors. President Mario Draghi,despite growing concerns and pressure of deflation took the decision to take no preliminary action to counter such deflationary concerns. The European Central Bank not only maintained its benchmark interest rate at the same level, it also kept its marginal lending and and deposit facility unchanged. Traders and investors have reacted quite swiftly, namely due to indecision, thus the pairing has declined to the detriment of the euro.
Today we should be aware of US Non-farm payrolls which are expected to be as high as 200K which would be the highest since December 2013. That data would erased the previous fears that the US economic growth is slowing down after the Fed introduced tapering of monetary stimulus. We should expect the speculation before the actual release to be bullish for US Dollar and bearish for Gold.
Today’s Main Events:
06.00 GMT: EUR – German Factory Orders (MoM) – measures the change in the total value of new purchase orders placed with manufacturers for both durable and non-durable goods 12.30 GMT: CAD – Employment Change– measures the change in the number of people employed. Job creation is an important indicator of consumer spending 12.30 GMT: USD – Nonfarm Payrolls – measures the change in the number of people employed during the previous month, excluding the farming industry. Job creation is the foremost indicator of consumer spending, which accounts for the majority of economic activity. 12.30 GMT: USD – Unemployment Rate – measures the percentage of the total work force that is unemployed and actively seeking employment during the previous month. 14.00 GMT: CAD – Ivey PMI – measures the activity level of purchasing managers in Canada
April 4, 2014 – Daily Market News
Today’s Hot Assets: USD
The EUR/USD pair on the back of the the European Central Bank’s decision to keep rates unchanged at their meeting today, moved upwards for a very brief moment in time. Nevertheless euro zone inflation was on the back of the minds of all traders and investors. President Mario Draghi,despite growing concerns and pressure of deflation took the decision to take no preliminary action to counter such deflationary concerns. The European Central Bank not only maintained its benchmark interest rate at the same level, it also kept its marginal lending and and deposit facility unchanged. Traders and investors have reacted quite swiftly, namely due to indecision, thus the pairing has declined to the detriment of the euro.
Today we should be aware of US Non-farm payrolls which are expected to be as high as 200K which would be the highest since December 2013. That data would erased the previous fears that the US economic growth is slowing down after the Fed introduced tapering of monetary stimulus. We should expect the speculation before the actual release to be bullish for US Dollar and bearish for Gold.
Today’s Main Events:
06.00 GMT: EUR – German Factory Orders (MoM) – measures the change in the total value of new purchase orders placed with manufacturers for both durable and non-durable goods
12.30 GMT: CAD – Employment Change– measures the change in the number of people employed. Job creation is an important indicator of consumer spending
12.30 GMT: USD – Nonfarm Payrolls – measures the change in the number of people employed during the previous month, excluding the farming industry. Job creation is the foremost indicator of consumer spending, which accounts for the majority of economic activity.
12.30 GMT: USD – Unemployment Rate – measures the percentage of the total work force that is unemployed and actively seeking employment during the previous month.
14.00 GMT: CAD – Ivey PMI – measures the activity level of purchasing managers in Canada
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