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💹Live coverage of forex market news from the team at DailyFX.

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@dailyfx : 🔻 ▪️Hooray! It’s NFP day! 📊Instruments to trade: EUR/USD, USD/JPY, GBP/USD ⏰The US NFP report will come out on January 8 at 15:30 MT time. 🔸Keep this time free, otherwise, you risk missing the crucial event for the whole Forex world that occurs only once in a month! Let us quickly remind you of what it is and how the market usually reacts. NFP or non-farm payrolls represent the change in the number of employed people during the previous month, excluding those who work in the farming industry

@dailyfx : 🔻 ▪️USD: FOMC Meeting Minutes are in focus 📊Instruments to trade: EUR/USD, USD/JPY, GBP/USD ⏰FOMC Meeting Minutes will be released on January 6 at 21:00 MT time. 🔸The FOMC is the Federal Open Market Committee, which is the department of the Federal Reserve. It will publish the record of the previous meeting that took place on December 16, which contains the details of the economic and financial conditions that affected the monetary policy decision. The Fed is one of the world’s most importan

@dailyfx : 🔻 ▪️Chinese data is full of surprises ⏰China will publish manufacturing and non-manufacturing PMIs on December 31, at 3:00 MT time. 📊Instruments to trade: USD/CNH, EUR/CNH 🔸Manufacturing and non-manufacturing PMIs are indicators that show how businesses in China see the current situation in the industry. Their calculations are based on surveys of a big number of purchasing managers in the manufacturing and services industries. If the index is bigger than 50, the industry is expanding. Alterna

@dailyfx : 🔻 ▪️USD awaits the last important indicator of this year ⏰The USA will publish Chicago PMI on December 30, at 16:45 MT time. 📊Instruments to trade: EUR/USD, USD/JPY, GBP/USD 🔸Chicago is a big business center in the USA, therefore the data from there tend to reflect the country's overall economic trend. Just like a regular PMI, this one represents a survey of around 200 purchasing managers, which asks them to rate the level of business conditions. If the indicator is above 50, the situation is

@dailyfx : 🔻 🔗However, occasional spikes to the upside may put that trend to a test: the double bottom of 19.75 doesn’t seem to be a near-term target, and the crossing of 20.00 to the upside puts USD/MXN on the collision course with the trend’s upside. The high of 20.65 has been already touched a week ago so coming back up to it is definitely a possibility. Therefore, let’s watch this local rise and see if it bounces downwards or pushes through the trend’s upside. 🔎Search : #USD #MXN 🆔 @dailyfx

@dailyfx : 🔻 ▪️USD/MXN: optimistic on the vaccine coming? 🔸Pfizer vaccine comes to Mexico this week to make this country one of the first in Latin America to start the treatment. 1.4 million doses are expected by the end of January – that’s while the Mexico City sees a spike of infections and sees restrictions for nonessential activity. Countrywide, 1.33 million cases are recorded with more than 118,000 mortalities. 🔸Domestically, the US dollar is being pushed to the softer side on the Fed’s monetary dir

@dailyfx : 🔻 ▪️The US jobless claims! ⏰The US unemployment claims are announced on Thursday at 15:30 MT time. 📊Instruments to trade: EUR/USD, USD/CAD, USD/JPY, GBP/USD 🔸Since the second week of October, the number of initial jobless claims has never exceeded 800K in the US. The average values have been revolving around the channel of 750-780K throughout the latest weeks. On a large scale, there is a clear recovery path that the US labor market has been gradually following since the record peak of unempl

@dailyfx : 🔻 ▪️Will the US GDP push the dollar? ⏰The final American quarterly GDP is announced on Tuesday at 15:30 MT time. 📊Instruments to trade: EUR/USD, GBP/USD 🔸A chart like the one you see below has never appeared on the desks of the American economists. After an unseen plunge of more than 30% in the second quarter this year, the American economy has expanded by more than 30% in the next one - a charming picture for the eyes of a perfectionist. But don’t take that as a precise figure just yet: the

@dailyfx : 🔻 ▪️Will the Canadian dollar rise? ⏰The Canadian monthly GDP is announced on Wednesday at 15:30 MT time. 📊Instruments to trade: USD/CAD, EUR/CAD, CAD/JPY, CAD/CHF 🔸In September, the Canadian economy grew 0.8% against the value of August. That’s a slightly weaker performance after 0.9% the month before, and significantly weaker than 2.5%, 6.2%, and 4.6% in the previous months consecutively. And the thing is, it’s not bad news: a developed country rarely sees figures higher than 1% of economic

@dailyfx : 🔻 🔗S&P 500 Finally, let’s discuss the S&P 500. It pulled back after setting the fresh high at 3 725. The move above this level will drive the stock index to the next round number of 3 750. Most analysts forecast the S&P 500 will drive further up. Support levels are at the low of December 14 at 3 645 and at the 50-day moving average of 3 545. 🔎Search : #USD #technical_analysis #stock #S_P_500 🆔 @dailyfx