WEEKLY WEBINAR: MARCH 28

Short Description

NFP & Bullish Yen Forex pairs

Video Script

Number one:

Non-farm payrolls. The NFPr for March comes on the back of the huge upside surprise in February as well as the first Fed rate hike since 2018. Expectations are for 450,000 new jobs, down from the 678,000 created previously. The dollar index has been consolidating under 100 for most of March- could this data be what triggers the breakout?

 

Number two:

The OPEC meeting. The latest decision from the oil cartel on Thursday follows a month since the invasion of Ukraine, which exacerbated already problematic energy supplies. EU leaders have been considering banning Russian energy imports but there’s no sign yet that members of OPEC would be willing or able to pick up the slack. Brent crude oil retook $120 per barrel last week after briefly dipping under $100.

 

Number three:

The Japanese yen. The best-trending currency pairs right now are the yen crosses because of weakness in the Japanese yen, which is at its weakest since 2016. The BOJ refusing to end monetary stimulus, while other central banks have stopped or plan to stop this year, is creating class policy divergence. USD/JPY, GBP/JPY and AUD/JPY are seeing major breakouts.

 

Number four:

Tesla stock. Shares of Tesla broke back over the psychological $1000 mark last week after dropping as low as $700. But it's not just Tesla, tech stocks across the board are seeing a rebound from deeply oversold levels. Apple and Amazon shares have both returned to levels last seen before Russia’s invasion of Ukraine.

 

Number five:

As far as economic data, I will be watching Australia retail sales on Tuesday, Germany CPI and ADP employment on Wednesday, China manufacturing PMIs and US core PCE data on Thursday then global manufacturing PMIs and NFP on Friday. You can click the link in the description to see the full economic calendar.