Will plummeting USD recover with 2 Major Data Release tomorrow?

August 29, 2017

US Dollar in Focus after Jackson Hole Crash. Two Big Reports Coming Up Can The USD Recover?

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Will plummeting USD recover with 2 Major Data Release tomorrow?

This article is originally referred from AvaTrade News

As you might have noticed, the US dollar dropped significantly on Friday when Fed Chairwoman Janet Yellen refrained from giving clues about the US monetary policy.

They say, after every fall there is a rise. This Wednesday, the markets are expecting two important reports from the US:

  • ADP Private Sector Employment
  • Second GDP for Q2

The two will be published within a 15-minute timeframe. Analysts forecast an increase in both.

Will the USD take advantage of these reports to recover?

Important Details

  • While the ADP results have been worse-than-expected since June, the first Q2 Gross Domestic Product data showed solid improvement compared to Q1.
  • Last Friday, USD lost 150 pips vs EUR and 90 pips vs GBP.
 Date & Time:  30.08.2017 @ 12:15 (GMT)
 Report Name:  ADP Nonfarm Employment Change (August)
 Previous / Expectation:  178k / 185k
 Date & Time:  30.08.2017 @ 12:30 (GMT)
 Report Name:  US Gross Domestic Product (Quarterly)
 Previous / Expectation:  2.6% / 2.7%

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Original Source: AvaTrade News

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