Prominent USD & CAD News Releases To Watch This Week

Significant events to watch:

-US (USD): U.S. ADP Nonfarm Employment Change

-CA(CAD): Canada Unemployment Rate

-US (USD): U.S. Nonfarm Payrolls

US (USD): U.S. ADP Nonfarm Employment Change – The ADP National Employment Report is a measure of the monthly change in non-farm, private employment, based on the payroll data of approximately 400,000 U.S. business clients. The release, two days ahead of government data, is a good predictor of the government’s non-farm payroll report. The change in this indicator can be very volatile.

A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD.

The previous reading was 140K worse than the expected 149K. The next report is due on April 03, 2024 at 12:15 GMT. Its forecast also stands at 149K.

CA(CAD): Canada Unemployment Rate – The Unemployment Rate measures the percentage of the total work force that is unemployed and actively seeking employment during the previous month.

A higher than expected reading should be taken as negative/bearish for the CAD, while a lower than expected reading should be taken as positive/bullish for the CAD.

The previous reading was 5.8%, in line with the expectations. The upcoming report is due on April 05, 2024 at 12:30 GMT. Its forecast stands at 5.9%.

US (USD): U.S. Nonfarm Payrolls – Nonfarm Payrolls measures the change in the number of people employed during the previous month, excluding the farming industry. Job creation is the foremost indicator of consumer spending, which accounts for the majority of economic activity.

A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD.

The previous actual data was 275K better than the forecast of 198K. The upcoming report is due on April 05, 2024 at 12:30 GMT and its forecast figure stands at 205K.  

Risers and Fallers

-S&P500 Index (+0.23%)

-Li Auto Inc (-3.35%)

-Johnson & Johnson (+1.61%)

-Silver (+1.25%)

S&P500 Index – The index demonstrated a slightly positive performance last week, adding nearly 0.23% in value. Overall, the S&P500 has shown a notable bullish trajectory over the last 1 year, accumulating almost 27% gains.

Li Auto Inc – The stock plunged by 3.35% in the last 5 days. However, Li Auto has displayed an uptick performance over the last 12 months, adding over 24% in value.

Johnson & Johnson– The stock surged previous week, gaining nearly 1.61% in value. The company has exhibited a lukewarm performance during the last 6 months, accruing only 2% gains.

Silver (XAGUSD) – Crude oil’s price climbed 1.25% in the past 5 days. The commodity is now trading at 24.9 USD.   

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