![Canada Might Increase Key Rate / 10% Profit Trade Idea](/storage/analyticvideo/9116/preview/mRkxnhNAeDtOvnH8_640x320_q80.jpg)
On December the 3rd Canada reported a 6% unemployment rate, while the expectations were at a 6.6% level. Less than expected unemployment rate is always hawkish news for the national currency.
The trading action today will mostly be driven by the news and the sentiment.
- During the Asian trading session, the US president Donald Trump signed an order which restricts Chinese telecommunication firms from selling their equipment in the US. He called Huawei activities a threat to national security. China, in its turn, said to take necessary measures to protect their firms. The escalation of the trade war affects the risk sentiment in the markets. Pay attention to the AUD/USD.
- Also today the British PM Theresa May meets with the Conservative party members at 14:30 MT time, where she is expected to announce the day of her departure. If she disagrees to step down before June 15, the uncertainties will increase and potentially hurt the GBP. The pound is currently trading at its February’s lows. Let's check GBP/USD.
- As for the economic calendar, we have the speech by the BOC Governor Stephen Poloz on the agenda at 18:15 MT. His positive comments may support the CAD.
On December the 3rd Canada reported a 6% unemployment rate, while the expectations were at a 6.6% level. Less than expected unemployment rate is always hawkish news for the national currency.
For a long time, traders considered American Non-farm Payrolls (NFP) the most important release in the market. However, the situation has changed. Now US CPI moves financial markets.
The higher prices seen today are generally related to the pandemic, that’s no doubt. US consumer prices jumped in October at the fastest pace in three decades putting the Biden administration on the defensive and increasing prospects that the Federal Reserve will raise interest rates next year. Jerome Powell says Fed will discuss speeding up bond-buying taper at the December meeting. What does it mean for markets?
Although the last week was intense, this one may be more dynamic and volatile. After the FOMC meeting and controversial decisions from the Bank of England, we saw a historical pound decrease, and the gold plunge. And there’s even more for you.
After the US CPI last week came out above the forecast, traders started expecting a 75-basis point rate hike…
In this video, we will talk about the potential change of a trend in the euro, another stock rally amid a global downtrend, gold prospects, and news that shakes the world right now. It’ll be a helpful video you don’t want to miss.
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Don’t waste your time – keep track of how NFP affects the US dollar and profit!