The USD remains bullish against EUR , GBP , JPY , CHF , AUD , CAD and neutral against the NZD , positive US data is likely to support the USD while negative US data could bring pullback before the next rise , however ; Let’s take a quick look at the most important events which may influence the market today :
- UK Services PMI (Nov) at 09:30 . Last read was 56.2 ,forecast is 56.6 . Market Impact :A higher than expected reading should be taken as positive/bullish for the GBP, while a lower than expected reading should be taken as negative/bearish for the GBP.
- US ADP Nonfarm Employment Change (Nov) at 13:15 . Last read was 230K , forecast 224K. Market Impact : A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD.
- US ISM Non-Manufacturing PMI (Nov) at 15:00 . Last read 57.1 , forecast is 57.5 . Market Impact : A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD.
- Bank of Canada Interest Rate Decision at 15:00 . Last rate was : 1.00% , forecast is 1.00% . Market Impact :A higher than expected rate is positive/bullish for the CAD, while a lower than expected rate is negative/bearish for the CAD. note that leaving the rate unchanged will bring high volatility in both directions !
- US Crude Oil Inventories at 15:30 GMT . Last read 1.946M , forecast 1.300M . Market Impact :A higher than expected reading should be taken as negative/bearish for the Crude Oil, while a lower than expected reading should be taken as positive/bullish for the crude Oil.
*All times are GMT
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