One of the ongoing boasts of President Donald Trump has been his success at getting the unemployment rates down across the USA, and as such it is going to be very easy to predict today’s US Unemployment Claims figures that will be released at 13:20 this afternoon.
Those figures are going to show that unemployment in the US has fallen across all sections of the community, and that in turn whilst is expected to be the case; it should have an instant impact as to the value of USD against most other currencies.
In fact, youth unemployment rates in the US are expected to show a massive decrease too, which when compared to youth unemployment in places such as Europe is impressive, and it is all part and parcel of Trumps commitment to put the US economy back on track, which there is no question he is doing and doing so rather quickly too.
If you are a Forex trader who does like to pair up the US Dollar with other currencies, then two additional data reports that are going to be released from the US today that could affect the value of that currency are the HPI m/m figures along with the New Home Sales figures.
USD Forex Pairings
It will probably not come as a surprise to learn that the US Dollar is one of the most used currencies chosen by Forex traders in their Forex pairing trades, and you can now only pair it up with any other fiat currency, but you can also pair it up with cryptocurrencies too.
Whilst it is very true and fair to say that USD has been gaining value against other currencies and cryptocurrencies’ recently, that could be a trend that is going to continue into the future, and you will need to keep that fact in mind when choosing just which side of a Forex currency pairing trade you do want to be on!
Today’s European Market Events
If you are a Forex trader who is considering placing any type of trades today in which one half of your trades will be using the Euro, then there are two important data reports that are going to be released in Europe today the first of which is the German GfK Consumer Climate report.
A little bit later on in the day it will be the ECB Monetary Policy Meeting Accounts data that is going to become public and that is sure to have an impact on the value of the Euro, depending on what that report does reveal.