We are closing the week with a US Trading Session. Let's cover the important moments of the week!
1- Russia -Ukraine Conflict
Russian soldiers are trying to control all Donets region and Ukraine has sent some buses to evacuate civilians. Turkish President Erdogan is visiting Russia today and they will talk about Ukraine also Syria. We may hear some important news in press conferences.
2- US Non-Farm Payrolls
We have received unexpectedly high NFP report. US companies and government have hired 528K new workers in July and expectation was only 250K. The unemployment rate has declined to %3.5 previous number was %3.6. This development will help FED to be more Hawkish.
3- US Trade Balance
US Trade Balance is shrinking with recent oil and gas shipments to European Countries. US companies are trying to cover the demand of European countries and this is giving boost US Energy sector. If this trend goes on this track we may see more decline on us trade deficit.
4 - Bank Of England Rate Decision
Bank of England has increased the interest rates 50 base points which is highest since 1998 to fight with inflation. Head of BOE just made it bold that they will go ahead to lower inflation. Even this rise didn't help GBP much and it is still losing value against Dollar.
As you can see there has been lots of developments this week. You can start making money with Gann Markets Expert Advisers. Start your trading account today!!