Market Focus

On Tuesday, 08.05.2018, the economic calendar will not be marked by a significant amount of important data, while the strongest news will be data on the number of open vacancies in the labor market of JOLTS USA. This indicator gives an opportunity to assess the state of the labor market and plays a significant role in assessing the situation on it. The indicator has a less strong impact on the movement of the US dollar, as published later than Non Farm Payroll.

According to the forecast, in April the indicator rose to the level of 6.147M, against the value of March at 6.052M. In case of confirmation of the forecast, the US dollar will receive support, against which one should expect its growth in the range of 20-30 points against the basket of currencies.

Also, today will be held the speech of US Federal Reserve Chairman Powell. The high-profile statements from this speech is not expected, but the fact of the speech can cause the growth of volatility in the US currency.

Alexander Sivtsov