USD: life after the NFP
US labor market figures on Friday shattered all the hopes for a strong dollar. Non-Farm Payrolls rose by 126K in March (forecast: +246K). What’s more, the previous reading was revised down from +295K to +264K. Data reduces expectations for a Fed’s rate hike in June and opens the way for a USD selloff.
The FOMC meeting minutes on Wednesday will be at the central stage next week. We’ll get the details of the controversial March 18 meeting. Meanwhile, the largest US aluminum producer Alcoa will start the first-quarter earnings season, reporting on Wednesday. You should also watch the US non-manufacturing PMI on Monday.