The Markets are Gearing Up for These Two Decisive Events that will Affect USD Crosses

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TUE 2/5: German Manufacturing PMI to Affect EUR Pairs

WED 3/5: FED Interest Rate Decision to Affect the USD

FRI 5/5: NONFARM PAYROLLS to Affect USD Pairs

 

 

Last Week’s Recap – Markets Rally on Macron Victory

Last Monday European Markets opened higher while the EUR gained significant momentum after centrist Emmanuel Macron won the first round of the French elections. The Macron rally extended till Wednesday when the Markets finally dipped on profit taking. Later in the day Treasury Secretary Steve Mnuchin unveiled U.S. President Donald Trump’s new tax cut plan. On Thursday the European Central Bank left its benchmark interest rate unchanged at a record-low of 0.0%, in line with forecasts. The week concluded with a rise in oil prices after OPEC stated that it was keen to find a deal that would ensure a drawdown of excess fuel supplies.*

 

Monday Morning briefing – EU Markets to Remain Closed on Labour Day

European markets will remain closed today as the world celebrates Labour Day. The Markets will however gear up for some decisive events that will affect EUR, USD and GBP pairs this week…

 

MON 1/5 – U.S. ISM Manufacturing PMI for April to Affect USD Crosses

The Institute of Supply Management (ISM) Manufacturing Purchasing Managers Index will be released at 14:00 GMT today and current forecasts support that the index will drop to 56.5 compared to a previous 57.2 reading, which is expected have a negative effect on the USD and its pairs**

 

TUE 2/5 – German Manufacturing PMI to Affect EUR Pairs

The German Manufacturing Purchasing Managers’ Index dropped slightly to 58.2 for March, but nevertheless remained above expectations. On Tuesday, investors will be looking very closely at April’s data which is expected to be released at 7:55 GMT. A higher than expected reading could push the EUR and its crosses higher!**

 

WED 3/5 – FED Interest Rate Decision to affect the USD

This Wednesday, analysts do not expect another rate hike from the Federal Reserve but a hawkish stance regarding future monetary policy could push USD pairs higher. The Federal Reserve are expected to officially announce their interest rate decision at 18:00 GMT.**

 

BDSwiss is offering a LIVE Trading Session on the day of the Federal Open Market Committee meeting!
EN

 

THU 4/5 – U.K. SERVICES PMI to Affect GBP Pairs

In March the Services Purchasing Managers’ Index rose above market expectations. This Thursday markets will be looking closely at the new reading, due to be released at 8:30 GMT. If the Services PMI for April comes at a higher than expected reading, GBP pairs may edge higher.**

 

FRI 5/5 – NONFARM PAYROLLS to Affect USD Pairs

The NFPs measure the number of people employed in the U.S. during the previous month, excluding the farming industry and they reveal how the economy is fairing! Consensus is that the NFPs will rise to 180K from a previous 98K which would give the USD and its pairs a boost. This week’s NFPs are expected to be released at 12:30 GMT.**

 

BDSwiss is offering a LIVE Trading Session on the day of the NFPs release!
EN NFP

 

*Source: Bloomberg
**Source: Investing.com

 

View all Important economic releases & events this week:
https://www.bdswiss.com/economic-calendar/

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