Event risk this past week boasted a significant probability of volatility and potentially a breakout from the dollar’s recent congestion. Looking at the week ahead, the potential for a major greenback move are doubled with a number of first tier indicators anchored by the market’s top billed non-farm payrolls release. Looking at this end-of-the-week gauge first, the labor report will have a greater influence on the fundamental outlook on the US economy (and its currency) than usual. This time around, the leading economic indicator will be measured against last week’s strong 2Q GDP revision and the hawkish comments from the FOMC minutes.
$ Dollar Boosted By GDP, But Will NFPs Do The Same? € Euro Looks To ECB Decision And Comments For Direction ₤ British Pound May Fall Further With Rate Decision Pending ¥ Japanese Yen: Carry Trade Flows Continue To Guide Price Action ₣ Swiss Franc Direction Split Between GDP, ECB Decision And Carry C$ Canadian Dollar Strength Relying On Oil And Growth AU$ Australian Dollar Could Freefall Following Rate Decision NZ$ New Zealand Dollar to Remain Pressured By Looming Rate Cuts