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6 160
These are the biggest events to watch this week:
Labour market data from the UK and Australia, along with Q3 GDP estimates from the eurozone and the UK, feature in this week's calendar. That said, markets are anxiously awaiting the restart of US data releases, such this week's CPI report.
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What will be the direction for USD CAD during Canadian Employment Change?
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Canada Employment Change 📈
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Canada Employment Change 📈
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🅰🔠🔡🆎
➡💶➡ EURUSD price increased. Is the long-term downtrend still in play?
The euro grew on Thursday, but despite recent gains, the long-term trend remains bearish. Could the U.S. dollar continue to lose strength, or is this just a temporary bounce? Find out in our analysis 💙
💵 Key takeaways
• Events. The EURUSD rose to 1.1550 as the U.S. dollar weakened after a rise in layoffs 📈 The struggling greenback pushed expectations for a Federal Reserve (Fed) rate cut. Meanwhile, the European Central Bank (ECB) signalled no immediate policy changes, leading to short-term support for EURUSD.
• Possible outcome. If the dollar remains weak and the ECB holds rates steady, the euro could continue to rise. However, the overall trend is still bearish, and any significant dollar rebound could push the pair lower 📊
🪙 Tip for traders
Watch for any surprises in the upcoming U.S. NFP and CPI reports, as these could influence the Fed's next move 💸 If the U.S. dollar strengthens, it could lead to a bearish reversal in EURUSD.
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