News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View more
Real Time News
  • 🇯🇵 Coincident Index Final (MAY) Actual: 92.1 Previous: 95.3 https://www.dailyfx.com/economic-calendar#2021-07-28
  • 🇯🇵 Leading Economic Index Final (MAY) Actual: 102.6 Previous: 103.8 https://www.dailyfx.com/economic-calendar#2021-07-28
  • Heads Up:🇯🇵 Leading Economic Index Final (MAY) due at 05:00 GMT (15min) Previous: 103.8 https://www.dailyfx.com/economic-calendar#2021-07-28
  • Heads Up:🇯🇵 Coincident Index Final (MAY) due at 05:00 GMT (15min) Previous: 95.3 https://www.dailyfx.com/economic-calendar#2021-07-28
  • Crude Oil Prices Risk Forming a “Lower High” on Viral Concerns, Stockpiles Fall https://www.dailyfx.com/forex/market_alert/2021/07/28/Crude-Oil-Prices-Risk-Forming-a-Lower-High-on-Viral-Concerns-Stockpiles-Fall-.html https://t.co/A8H9tICkse
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 94.37%, while traders in Wall Street are at opposite extremes with 75.02%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/8RDJ927lny
  • What is your forex trading style? Take the quiz and find out: https://t.co/YY3ePTpzSI https://t.co/DtSCe17vPg
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: 0.14% 🇳🇿NZD: 0.04% 🇪🇺EUR: 0.04% 🇦🇺AUD: -0.02% 🇨🇭CHF: -0.03% 🇬🇧GBP: -0.03% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/5vk2L17zcp
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: France 40: 0.09% Germany 30: -0.10% FTSE 100: -0.12% US 500: -0.14% Wall Street: -0.21% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/0RLz8L0Goo
  • Despite the IMF's update to 2021 growth forecasts and strong earnings after hours, risk trends are pacing like markets are worried. Traders are likely awaiting the Fed, and that has me look at $EURUSD and $USDCAD https://www.dailyfx.com/forex/video/daily_news_report/2021/07/28/EURUSD-and-USDCAD-Reversals-More-Suitable-to-Conditions-but-Beholden-to-Fed.html https://t.co/ywxD4wRAYX
Weekend: Dollar Weakens Following Weak NFPs; China, US CPI in Focus

Weekend: Dollar Weakens Following Weak NFPs; China, US CPI in Focus

David Liu, Technical Strategist

Weekend Developments

  • US March non-farm payrolls add 120k jobs, expected 205k
  • Chinese CPI will be reported later today, US CPI on Friday
  • Iran to meet major powers for nuclear talks on April 14th

Although foreign exchange markets reacted to Friday’s weaker than expected NFP data for March, the equity market’s close for Good Friday could result in further cross-market reactions for today’s session. With Federal Reserve Chairman Ben Bernanke’s statement two weeks ago citing the still-weak employment market as one of the main reasons that the central bank will keep pursuing a lax monetary policy, many investors are now eyeing the weaker data as possibly opening the door to another round of asset purchases. Even though some members of the FOMC have stated there will be no more large scale purchases unless the economy significantly weakens, the Federal Reserve may be more pressed to keep easing to prevent stepping on the recovery.

Market reactions and central bank commentary may be subdued until the end of the week as US March CPI will be reported on Friday. Headline CPI is expected to slow to 2.6% from 2.9% from the recent weakening in energy prices, while core CPI is expected to remain at 2.2%. Preliminary University of Michigan consumer confidence for April will also be reported on Friday, expected to improve to 76.6 from 76.2.

The Asian market is expected to be volatile throughout the week, with Chinese CPI and PPI on tap later today, Bank of Japan’s rate decision on April 10th, March Australian labor data on April 12th, and first quarter Chinese GDP to highlight Friday’s Asian docket.

At the time of writing, the yen is leading European currencies against the dollar post-NFPs. The Australian and New Zealand dollars are moderately weaker as markets await Chinese data.

Weekend_04082012_US_NFP_Post_Reaction_Drives_body_Picture_4.png, Weekend: Dollar Weakens Following Weak NFPs; China, US CPI in Focus

--By David Liu, DailyFX Research

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES