Nonfarm Payrolls Puts the U.S Dollar in Focus…It’s a quiet day ahead with most of the major markets closed for the day. U.S nonfarm payroll figures will interrupt the silence later today, however.
Earlier in the Day:
It was a quiet start to the day on the economic calendar this morning. A number of key markets were closed for the day, including the Australian and New Zealand markets.
The lack of stats left the majors to respond to the U.S session, which was risk on and Dollar negative.
The Day Ahead:
For the EUR
It’s a particularly quiet day ahead on the economic calendar. There are no material stats due out of the Eurozone today, with the majors markets closed today and on Monday.
At the time of writing, the EUR was down by 0.04% to $1.1772.
For the Pound
It’s also particularly quiet day ahead on the economic calendar. There are no material stats due out with the UK on holiday.
At the time of writing, the Pound was up by 0.04% to $1.3839.
Across the Pond
It’s a busy day ahead on the economic calendar. Nonfarm payroll figures for March are due out later today.
Unemployment figures are also due out along with wage growth figures.
Expect the March unemployment rate and nonfarm payroll figures to have the greatest impact on the Dollar.
For March, the ADP had reported a 517k rise in nonfarm employment. The numbers will need to be aligned to support the optimistic outlook towards the labor market.
At the time of writing, the Dollar Spot Index was down by 0.03% to 92.902.
For the Loonie
It’s a quiet day ahead on the economic calendar, with the Canadian markets closed.
A lack of stats will leave the Loonie in the hands of market risk sentiment on the day.
At the time of writing, the Loonie was down by 0.17% to C$1.2537 against the U.S Dollar.
For a look at all of today’s economic events, check out our economic calendar.