We’ve seen a string of negative data points coming out of the US recently which has created a bearish sentiment on the Dollar.
Alongside that the market still expects the FED to cut rates sometime within the next 12 months, even though the FOMC projects no rate changes in 2020 so far.
This week we have some important economic data which can provide us with some great opportunities to trade the USD.
The most significant events to watch out for is the ISM Non-Manufacturing PMI as well as NFP. Both of these events will provide markets with information on whether the recent slump in economic data in other parts of the US economy is spilling over into the Services industry and jobs market.
This week ahead video will help you prepare for this upcoming event and provide insights into how you could possibly trade it as well.
Highlights of the video:
01:03 – Baseline context for the USD
02:28 – Baseline expectations for the upcoming risk event
05:48 – Possible sentiment shifts
07:40 – Possible currency pairs to consider