FxPro Daily Insight for February 7
February 07, 2020 @ 16:33 UTC
On Friday, the markets show some fatigue from the rally of previous days. Some associate this stop with continuing concern about the impact of coronavirus on global supply and the economy. But a more relevant version is the desire to fix part of the profit after the rebound and look at data from the United States. Recall that at the start of the week, analysts on average predicted employment growth of 165K. However, the markets are probably to priced in higher numbers, since several robust labour market indicators were published during the week.
Important events (GMT):
13:30 US !!! Non-Farm Employment Change (165K)
13:30 US !!! Average Hourly Earnings (3.0% y/y)
13:30 Ca !!! Employment Change (16.3K)
17:00 US !!! Baker Hughes U.S. Rig Count (790)