Forex markets have seen a turbulent week, in which the USD suffered but managed to partially recover. German GDP, UK Employment data, Mark Carney’s speech and US consumer data stand out. These are the major events on forex calendar. Join us as we explore this week’s highlights.
The Non-Farm Payrolls release showed the U.S. economy created 223,000 jobs in April, rebounding from a poor jobs gain in March. The details of the report are mixed, but there are slightly more positives than negatives. The euro jumped yo highs last seen in February on a short squeeze but retreated. In the UK, the Conservatives won an absolute majority, the best outcome for markets, and the pound jumped on this surprise. The Australian dollar suffered a rate cut but also no further cuts anytime soon and the reaction was positive for AUD/USD. The loonie made some nice gains with oil, but found it hard to maintain them. Let’s start: