Weekly Outlook |Merit Forex

Pay Attention To US CPI inflation And ECB Rate Decision This Week EUR/USD: Investors have turned to the safe-haven asset as the COVID-19 cases surged last week, and dampened hopes of an economic recovery. U.S. Supreme Court ruling allowed prosecutors access to U.S. President Donald Trump’s financial record. The ruling dealt a blow to Trump’s battle to keep the details of his finances und...

US Jobs Report Is Behind Us, What Is Next? EUR/USD: US Nonfarm Payrolls showed huge moves last week. The US  economy produced a gain of 4.8 million jobs, beating the estimate of 3.03 million. The unemployment rate fell to 11.1%, down from 13.3% beforehand. At the same time wage growth remains an area of concern, as wages continue to fall. The US economy has shown signs of recovery, with gains in the past two releases. On...

A Busy Week Ahead: Focus On US Non-Farm Payrolls And FOMC Meeting Minutes This Week EUR/USD: The pandemic cases are rising in California, Florida, and most of the other US states. Investors continue to worry about the surge in United States COVID-19 cases and the Fed’s warnings about the banks’ resilience are weighing on the market sentiment. In the latest report, IMF sees a global contraction of -4.9% vs -3.0% in the...

Pay Attention To US GDP Growth And Durable Goods Orders Data This Week EUR/USD: Euro was under pressure last Friday after EU Leaders ended Economic Summit without consensus on a recovery plan. EURUSD showed a downward movement and dropped to the 1.1165 main support level In Federal Reserve Chair Jerome Powell's testimony to the Senate, he touted signs of recovery although he stressed that the outlook remains uncertain...

Pay Attention To BoE Interest Rate Decision And US Retail Sales This Week EUR/USD:  According to last week Fed quarterly projections, the U.S. economy will shrink 6.5% this year, and the unemployment rate will be 9.3% by the end of the year. We can use our tools to support the labor market and the economy, and we can use them until we fully recover, Fed Chair Jerome Powell said on Wednesday. COVID-19 case...

US Non-Farm Payrolls Data Is Behind Us, Fed Rate Decision Is Coming Up EUR/USD: Last week, the US Labor Department reported that the US nonfarm payrolls rose by 2.509 million in May, compared to expectations for a decline of 8.00 million. The U.S. jobless rate fell surprisingly in May to 13.3% from 14.7% in April. the Jobs Report was good news for the American labor force and supported the greenback last Friday. Looking a...