“Draghi’s speech” today & Here is the Today’s Market Movers!

April 6, 2017

Several Important things to know for today!

“Draghi’s speech” today & Here is the Today’s Market Movers!

Today’s main event will be Draghi’s speech, while we expect a non–event US weekly unemployment claims.

Today’s Forecast for Important Trading Indicators

Time in GMT Country Indicator Expected Previous
 13:30 US Unemployment Claims 251k 258k
 21:00 EUR ECB Draghi Speaks

Asian Session Market Movers

Yesterday was a day full of USA news.

ADP employment data came better than expected with 263 thousand jobs added versus 184 thousand expected.

Such a good number hinted that Friday’s NFP would also come better than expected.

As a result the US dollar strengthened and we saw USDJPY breaching the 112 handle, rising to as high as 112.45. Good US sentiment didn’t last for more than a few hours.

In just less than 2 hours, disappointing ISM manufacturing data led the USDJPY to drop to 112.10 just to rise again before the FOMC minutes release.

Technical chart for USDJPY

  • The Fed was quite vague. Minutes showed that they were undecided on how to move forward. They were split in opinion about almost everything. The indecisiveness of the Fed members led USDJPY to crash to 110.29 after the FED minutes.
  • This morning USDJPY was trading at 110.50, EURUSD at 1.0670 and the Cable at 1.2480. Nikkei was down by 1.50% and Hang Seng by 0.6%.

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