After ECB decision to cut deposit rate to minus 0.30 percent and extend its stimulus (quantitative easing) program by additional 6 months at 60 billion euro a month yesterday. The financial market is about to witness yet another volatility today as the world await FED decision in two weeks.
Key Forex economic data to look out for today
Currency Economic Data Actual Expected Previous
AUD Retail Sales m/m 0.5% 0.4% 0.4%
CAD Employment Change -35.7k -9.7K 44.4K
CAD Trade Balance -2.8B -1.7B -1.7B
CAD Unemployment Rate 7.1% 7.0% 7.0%
CAD Labor Productivity q/q 0.1% 0.2% -0.6%
USD Earnings m/m 0.2% 0.2% 0.4%
USD NFP Change 211k 201K 271K
USD Unemployment Rate 5.0% 5.0% 5.0%
The Euro reached a new height against majors yesterday after ECB president, Mario Draghi made the decision of the union to increase stimulus known, but sadly European stocks failed to respond likewise and fell to their lowest in three weeks as the struggle to lift inflation to 2 percent target in the region lingered. If non-farm payroll came out positive, I will be looking to sell EU and EURGBP pairs.
Edited: I sold these two pairs as stated
