Attention on employment statistics and economic indicators

Attention on employment statistics and economic indicators

06.05.2022

Following the sharp decline after the FOMC meeting, the US dollar regained strength yesterday, with the EUR/USD pair falling approximately 140 pips from 1.064 to 1.049.Yesterday’s decline pushed the EUR/USD back into a range between 1.047 and 1.057, placing it below the 20-period moving average on the 4-hour chart. If the decline continues, we should keep an eye on the next support level at 1.044.

European currencies are trading weakly, with the euro falling from 137.55 to 136.85 as various countries impose new sanctions on Russia. However, as the euro has shown signs of recovery during today’s Asian trading session, we should carefully assess its direction while monitoring its performance against other currencies. Meanwhile, the euro is trading firmer against Oceania currencies, with the EUR/AUD pair rising from 1.461 to 1.484.

Today’s schedule includes German industrial production and UK Halifax house prices at 3:00 PM CET, the UK Construction PMI at 5:30 PM CET, remarks by MPC member Pill at 6:15 PM CET, remarks by Bundesbank President Nagel at 6:30 PM CET, and remarks by MPC member Pill at 8:15 PM CET. During U.S. trading hours, the Canadian unemployment rate will be released at 9:30 PM ET,U.S. Employment Report at 21:30 U.S. time, remarks by U.S. Fed Chair Williams (NY Fed) at 22:15, remarks by U.S. Fed Chair Williams (NY Fed) at 22:15, remarks by U.S. Fed Chair Williams (NY Fed) at 22:15, remarks by U.S. Fed Chair Williams (NY Fed) at 22:15, remarks by U.S. Fed Chair Williams (NY Fed) at 22:15, remarks by U.S. Fed Chair Williams (NY Fed) at 22:15, remarks by U.S. Fed Chair Williams (NY Fed) at 22:15, remarks by U.S. Fed Chair Williams (NY Fed) at 22:15, remarks by U.S. Fed Chair Williams (NY Fed) at 22:15, remarks by U.S. Fed Chair Williams (NY Fed) at 22:15, remarks by U.S. Fed Chair Williams (NY Fed) at 22:15, remarks by U.S. Fed Chair Williams (NY Fed) at 22:15, remarks by U.S. Fed Chair Williams (NY Fed) at 22:15, remarks by U.S. Fed Chair Williams (NY Fed) at 22:15, remarks by U.S. Fed Chair Williams (NY Fed) at 22:15, remarks by U.S. Fed Chair Williams (NY Fed) at 22:15, remarks by U.S. Fed Chair Williams (NY Fed) at 22:15, remarks by U.S. Fed Chair Williams (NY Fed) at 22:15, remarks by U.S. Fed Chair Williams (NY Fed) at 22:15, remarks by U.S. Fed Chair Williams (NY Fed) at 22:15, remarks by U.S. Fed Chair Williams (NY Fed) at 22:15, remarks by U.S. Fed Chair Williams