Good morning all,
We ended last week with a stellar NFP report that pushed higher both USD and stocks: with a 266k data ag. 180k expected - a deviation of around 45%- it surprised a lot of analysts, especially after the previous weak data in ISM and ADP report .
During the weekend, on the other hand, China has seen its exports going down and its trade balance deteriorating more than expected. This is basically the reason of a quiet start of the week both in Asian markets and EU / US futures (however, Japan has posted good numbers both in GDP and Current Account few hours ago.)
As said, USD retraced from levels close to supports / resistances (according to which cross you are looking at) with losses especially pronounced ag EUR, CHF and also CAD. On the other hand, both GBP and especially AUD had more contained losses.
ECONOMIC DATA
Today, the economic calendar is almost empty, with just something coming out from Europe during the early morning. Especially:
- GE Exports, Imports, Trade balance released, GOOD numbers
- EU Sentix Investors Confidence is due at 09.30 GMT
But don't forget that either TOMORROW we will have a bunch of important data from China (CPI), Europe, and the US. On WEDNESDAY, FED will announce its Interest Rate Decision. So, be careful before the zenith of the week
That's all,
Stay safe
