Investors Expect Reports on the Labor Market of the US and Canada

The US dollar has continued to decline against a basket of currency majors. The US currency is under pressure due to weak economic data. Thus, initial jobless claims increased again and counted to 1,877K, which exceeded the expectations of experts who predicted 1,800K. Investors expect the publication of reports on the US and Canadian labor markets. Yesterday, the dollar index (#DX) updated local lows again and closed in the negative zone (-0.62%).

The single currency has been growing relative to a basket of currencies after the ECB meeting. Following the meeting, the regulator announced that it had expanded the Pandemic Emergency Purchase Program (PEPP) by 600 billion euros, and also reported that it would continue to buy assets under the PEPP at least until the end of June 2021. At the same time, the ECB has kept key interest rates at the same level.

The "black gold" prices have been growing. Currently, futures for the WTI crude oil are testing the $38.10 mark per barrel.

Market indicators

Yesterday, there was the bearish sentiment in the US stock market: #SPY (-0.26%), #DIA (-0.06%), #QQQ (-0.70%).

The 10-year US government bonds yield has grown again. At the moment, the indicator is at the level of 0.85-0.86%.

The news feed on 2020.06.05:
  • - US labor market data at 15:30 (GMT+3:00);
  • - Data on the labor market of Canada at 15:30 (GMT+3:00);
  • - Ivey PMI in Canada at 17:00 (GMT+3:00).

  • by JustForex, 2020.06.05

    We advise you to get acquainted with the daily forecasts for the major currency pairs.

    This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

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