Dear traders,
An important event of June is the publication of Non-Farm Payrolls by the US Labor Ministry today, on June 3, at 12.30 noon, GMT.
Analysts believe that we can expect a positive report for May from the US Department of Labor. NFP report is expected to be better than the consensus forecast on a background of accelerated economic growth followed by a slowidown of the first quarter.
The last month, the board of US Federal Reserve also expected growth of employment and GDP figures in the second quarter. If this trend continues, it will result in “a gradual and cautious raise of the interest rate,” as Janet Yellen, the FOMC chairman declared.
We should remind that the higher figures are treated as the positive market for US dollar. The figure below expectations indicate a negative direction for US dollar.
Thus, a strong NFP report will encourage investors to buy US dollar against their expectations of anticipated raise of the interest rate increase on June 15 or July 27.
Keep an eye on the financial market together with FreshForex!
By Catherine Main, a senior analyst of FreshForex company.
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