Is The USD Finally Off The Hook?

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1. Dollar Steadies After Strong NFP
The dollar steadied this morning after rallying on some upbeat U.S. jobs data on Friday. A strong Nonfarm Payroll report sent bond yields surging on the prospects of increasing inflation last week and caused the dollar index to gain as much as 0.6 percent. It should be noted that last week’s robust NFP provided some much needed support for the greenback, which had slipped to a three-year low of 88.438 in late January. The dollar’s recent downfall was attributed to a range of factors including concerns about U.S. trade protectionism.*

2. RBA, RBNZ And BOE Interest Rate Decisions
Monetary policy meetings by central banks will dominate this week’s economic calendar as the Bank of England, the Reserve Bank of Australia and the Reserve Bank of New Zealand are due meet to set key interest rates. All three are expected to stand pat but surprises could cause significant volatility to their respective currencies. Important economic data around the globe is also expected to move the markets with most countries releasing monthly figures on trade and services PMIs. You can find a detailed listing of all major future events along with their respective date, time, forecast, the underlying currency on BDSwiss’ Economic Calendar.**

3. EU Markets Plummet Amid Global Selloff
Markets in Europe opened on a bearish note in early Monday trade, after a major selloff was recorded worldwide. European stocks are expected to continue heading lower as weakness in markets overseas weighed on sentiment. It should be noted that politics, data and earnings are expected to keep EU investors on their toes this week and have a major impact on the EUR pairs. The EUR traded lower against a stronger dollar this morning. The EUR was also dragged lower by the failure of coalition negotiations between German Chancellor Angela Merkel’s conservatives and the Social Democrats (SPD) to meet their Sunday deadline. SPD members did however state that talks would resume today; and investors will now be looking for any news as to whether an agreement was made.***

You can find and trade all of the above mentioned equities and commodities on BDSwiss Forex/CFD platforms.

*Source: CNBC

**Source: Investing

***Source: Reuters

Upcoming Earnings Reports This Week:
06/2/2018 – BNP Paribas (#BNPQF) to report pre-market
06/2/2018 – BP p.l.c. (#BP) to report pre-market
06/2/2018 – General Motors Company (#GM) to report pre-market
06/2/2018 – The Walt Disney Company (#DIS) to report post-market
07/2/2018 – GlaxoSmithKline (#GSK) to report pre-market
07/2/2018 – Tesla Motors (#TSLA) to report post-market
08/2/2018 – Commerzbank AG (#CRZBF) to report pre-market
08/2/2018 – Societe Generale (#SCGLF) to report pre-market
08/2/2018 – Tate & Lyle, PLC (#TATYF) to report pre-market
08/2/2018 – Thomas Cook Group Plc. (#TCKGF) to report pre-market
08/2/2018 – Twitter, Inc. (#TWTR) to report pre-market
08/2/2018 – Expedia, Inc. (#EXPE) to report post-market

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