Focus Nonfarm payrolls in the United States

The worries of trading war still scare investors so Asian shares traded mix on Wednesday after white House chief economic advisor Gary Cohn's resignation from the Trump administration. North Korea is willing to negotiate with The United State about nuclear weapons on Tuesday while Trump keeps the possibility for the ways. Nikkei may edge higher supporting by internal factor: the fourth quarter GDP in 2017 at 06.50 a.m. which may reach the forecast at 0.9% while Bank of Japan may hold the interest rate at -0.10% then investor may focus on its monetary on Friday.
ECB may hold the interest rate unchanged at 0.00% and deposit rate at -0.40% at 19.45 p.m. on Thursday so Euro may hold steady and may rise back to 1.2500 points. I also suggest to listen ECB press conference at 20.30 p.m. and head of bank of Canada speech at 23.00 p.m. which may give signals of the current economic in Canada. I think economic in Canada seems strong because the employment change in February predicts higher 20,000 positions as well as low unemployment rate at 20.30 p.m. on Fridays. I think these factors may give positive for Canadian dollar. I also suggest seeing U.K. manufacturing production in January at 16.30 p.m. on Friday.
However, investor still keeps eyes on U.S. indices which will express the current labor market in USA: initial jobless claim at 20.30 p.m. on Thursday, nonfarm payrolls and unemployment rate at 20.30 on Friday. If these indices show the strong labor market, the possibility of rising interest rate by ending of this month will be higher. As the result U.S. dollar may rise in short-term from the speculation. According to Dudley speech on Tuesday that 4.1% unemployment rate means U.S. employment is performing maximum so he support to raise interest rate in March.

By Niramon Nitnitiphruet
Financial analyst, Olymp Trade.

Olymp Trade Review