Canada will publish the employment change and the unemployment rate on July 10, at 15:30 MT time.
How bad is the US unemployment?
The US unemployment claims will be announced on Thursday at 15:30 MT time.
Instruments to trade: EUR/USD, GBP/USD, USD/JPY, USD/CAD
The numbers for initial jobless claims in the US in March and April will hardly be forgotten… ever. 6.8 million people applying for the unemployment benefits as reported on April 2 – that was something unseen in the US history, and the shock was aggravated on the contrast with the stunning performance of the American labor market at the end of 2019 and beginning of 2020. Another negative element was the surprise factor of the April 2 figure which came almost twice as high as the market expected. April 9 brought 6.6 million people applying for the benefits, which was more than the market forecast. If this week the figure comes more than expected once again, it should have a negative effect on the USD.
- If the figure is higher-than-expected, the USD will drop.
- Otherwise, it will be boosted.
Canada will announce its monthly GDP on July 31, at 15:30 MT time.
The United States will release the advance GDP growth rate for the previous quarter on July 30, at 15:30 MT time.
The Federal Open Market Committee will make its statement and announce the interest rate on July 29, at 21:00 MT time.