The USD has continued to push down over the last few days, but saw some relief yesterday. We are leaning towards further dollar weakness for now. However, advanced group members are aware of a second scenario which we could see… an area of interest where the dollar could potentially bounce from. All eyes will be on the NFP this week to see if this can be the catalyst to push price and determine which scenario we will be seeing. The last NFP we saw that the US economy added 850K jobs, much better than the 700K expected. Let’s see what this week’s NFP will bring.
We do have a lot of high impact fundamentals at the end of this week, so we could see some nice moves in the market.
Upcoming fundamental releases we have are:
Thursday, August 5th
- AUD, RBA’s Governor Lowe Speech
Friday, August 5th
- AUD, RBA Monetary Policy
- USD, Non-Farm Payroll
- CAD, Unemployment Rate
- CAD, Net change in unemployment
Make sure you pay attention to the @bsappsfxltd Instagram page, as this will provide you with the upcoming fundamental releases at the beginning of the week as well as other valuable information and insights!
BlackRock is one of world’s largest investment management companies. They have released a mid-2021 outlook. It is an interesting read and can be found here: