March 31st – April 4th
EURUSD pair closed last week’s trading session higher on weaker US Dollar as a result of US president Trump tariff policy while economist and markets are pricing-in negative impact on US economy. Pair traded lower during the week as economic indicators from both the EU and US came positive. Despite the higher than expected US PCE US Dollar weaken and the pair sharply recovered on the upside as EU commission retaliated with tariffs on the US after Trump impose 25% tariff on EU cars.
As for this week, traders and investors will mainly focus on the US employment numbers. ADP employment due to be released on Wednesday and the nonfarm payrolls on Friday. Heavy economic calendar for both the US and EU will potentially triggered a volatile week.
On the economic calendar we have on Monday, the German retail sales pointing lower at 2.7% German CPI expected lower at 2.2% On Tuesday, European Harmonized index of consumer prices expected lower at 2.5% US ISM manufacturing PMI unchanged at 50.3 On Wednesday, US ADP employment to add 120K new jobs. On Thursday, US ISM services PMI expected lower at 53 On Friday, Non-farm payroll expected to add 128K new jobs and Average hourly earnings steady at 0.3%
Technically the picture is positive after last week’s close above (61.8%) at 1.0825 In this week’s trading session if pair trades on the upside will test 1.0931 (100%) A break out and close above 1,0931 will open the road for 1.1031 If trades on the downside will test 1.0651 (61.8%) A break and close below 1.0651 will add downside pressure and test 1.0562 Our traders are net short positions between 1.0647 – 1.0935targeting profits at 1.0643 if pair trades on the downside we are expecting take profits on short positions and new long positions starting at 1.0647
GBPUSD pair closed last week’s trading session higher despite the lower than expected UK CPI number. The lower CPI couldn’t trigger a selloff in GBP as investors and traders are mainly focus on Trump’s tariff war. The higher than expected US PCE also didn’t helped the US Dollar while uncertainty building up due to US president Trump tariff policy.
As for this week, traders and investors will mainly focus on the US employment numbers. ADP employment due to be released on Wednesday and the nonfarm payrolls on Friday. The heavy economic calendar in the US and the lack of any UK economic released will let the pair on US Dollar’s mercy.
On the economic calendar we have on Tuesday, US ISM manufacturing PMI to remain unchanged at 50.3 On Wednesday, US ADP employment to add 120K new jobs. On Thursday, US ISM services PMI expected lower at 53 On Friday, Non-farm payroll expected to add 128K new jobs and Average hourly earnings steady at 0.3%
Technically the pair’s overall picture is positive after last week’s close above 61.8% at 1.2935 As for this week, if pair trades on the upside, will test 1.3037 (100%) A break and close above 1.3037 will open the road for 1.3137 Alternative, if trades on the downside, will test 1.2680 (61.8%) A break and close below 1.2680 will open the road for 1.2571 Our traders are 100% net short with sell positions between 1.2680 and 1.3011 targeting profits below 1.2600 We are expecting more aggressive short positions on the way up and new long positions starting at 1.2680 (61.8%).
For more detailed economic calendar events please visit our live economic calendar on:
https://tentrade.com/economic-calendar/
*The material does not contain an offer of, or solicitation for, a transaction in any financial instruments. TenTrade accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losing all your invested capital, so please make sure that you fully understand the risks involved.
