Nonfarm and other important news of the week

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Nonfarm and other important news of the week
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Zoe OkekeZoe Okeke
February 22, 2017
Nonfarm and other important news of the week

We have compiled the top 3 important news events of the current week, which can have a serious impact on the market.

Important news of the week

Below is the top-3 news events, which can have a big impact on the market.

Statistics on unemployment in the US (March)

On Friday, there is some important news coming out that characterize the US economy. First of all, I would like to highlight Nonfarm Payrolls, which is being released on Friday at 14:30 (GMT +2). Analysts expect an increase in jobs outside the agricultural sector by 180 thousand, which is however less than in the previous months. Despite this, analysts are confident in the recovery of the US economy, as indicated by an increase in the interest rate in March. Weekly EUR/USD Forecast

Interest rate in Australia

On Tuesday early in the morning (06:30, GMT +2) traders expect the Reserve Bank of Australia's decision on the interest rate. Analysts do not expect a rate hike, despite positive news about economic recovery. The rate has not been increasing for almost a year, is the Bank of Australia being too cautious?

Index of business activity in the UK

In the UK statistics are coming out on business activity in:

  • the production sector
  • In construction
  • In the services sector

The growth is expected for all indices in March, which is clearly making the opponents of Brexit unhappy. It is worth noting that positive economic statistics, as well as rising inflation may in the next 2-3 months lead to an increase in the interest rate, which will undoubtedly have an impact on the British Pound.

Conclusion on the economic review

This week many traders look forward to statistics on unemployment in the US (Friday, 14:30, GMT + 2). The dollar appreciably strengthened last week, but in the next 4 days it can go to into the consolidation stage and form a flat paired with other currencies.

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