The US dollar made sharp gains as the global slowdown dampened the mood. Mario Draghi’s speech, the US FOMC Meeting Minutes and US unemployment claims are just a few of our market-movers this week. Here is an outlook on the main events to shape Forex trading in the coming days.
US Non-Farm Payrolls gained only 80K despite the encouraging indicators released earlier. Economists expected a larger gain of 97,000 jobs but this disappointing figure did not lift unemployment rate which remained at 8.2%. On the whole, the report is not a disaster but this disappointment joined the already gloomy mood that began as three important central banks announced easing measures, reflecting a worsening environment. The ECB cut had the strongest impact. Let’s see what’s in store for us this week.
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