Traders will be watching the US Dollar this week after the news released on Friday around jobs data. Total non farm employment rose 252K and the unemployment rate dropped to 5.6% – both of these beating market expectations. These positive numbers were slightly offset by disappointing hourly wage numbers which demonstrate low wage growth.
So, it was a mixed bag for the dollar at the end of last week and there are a number of risk events for the Greenback which are worth being aware of going into the week:
- FOMC Member Lockhart meeting Mon Jan 12 5:30 PM GMT
- Core Retail Sales and Retail Sales Wed Jan 14 1:30 PM GMT
- Crude Oil Inventories Wed Jan 14 3:30 PM GMT
- PPI Thurs Jan 15 1:30 PM GMT
- Unemployment Claims Thurs Jan 15 1:30 PM GMT
- Philly Fed Manufacturing Index Thurs Jan 15 3:00 PM GMT
- CPI/Core CPI Fri Jan 16 1:30 PM GMT
- Prelim UoM Consumer Sentiment Fri Jan 16 2:55 PM GMT
And finally, its worth taking a quick look at the US Dollar index futures chart, we are at an interesting historic level in terms of previous supply on the dollar.