Non-Farm Payrolls Passed, BOE Eyed for Possible Rate Cut

Discussion in 'Fundamental Analysis' started by AllFXBrokers, Jul 11, 2016.

  1. AllFXBrokers

    AllFXBrokers Member Trader

    Jul 10, 2016
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    The Non-Farm Payrolls report surprised everybody the previous week and jumped to 287K for June, up from previous sluggish figure at 11K employment increase in May. Nevertheless, the unemployment rate increased from 4.7% to 4.9%. The US Stocks took the chance given by higher than expected NFP and closed with gains on Friday session. Today early in the morning session the NIKKEI 225 rose by 4 percent following US stocks and as the Prime Minister Shinzo Abe coalition won in upper houses elections. Risk sentiment has recovered amid fading “Brexit” concerns, which has overshooted initially and due to US economy showing some improving data. In the coming week the major event will the Bank of England monetary decision where the central bank is expected to reduce its rate from 0.50% to 0.25%. Mark Carney, head of the BoE said previously that stands ready to cut rates in order to stabilize economy after the “Brexit: vote. The Bank of Canada will also meet this week and is most likely going to keep rates unchanged at 0.50%.

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