US Dollar: forecast for March 7-13
On Friday, the bunch of mixed US labor market figures shook the markets. US NFP surprised to the upside, while the average hourly earnings came out below the forecast. In the current conditions, the second indicator is more important for the Federal Reserve, so the demand for the US dollar declined after all.
Next week we expect the bearish trend for the US Dollar to continue. Traders expect the Fed to reveal concerns on the prospects of the US economy on the March 16th meeting and delay the next step of policy tightening. US economic calendar for the new week is rather light. On Monday, listen to the FOMC members Brainard and Fisher speaking. On Wednesday, a new portion of the March crude oil inventories data will be released, while on Thursday pay attention to the US unemployment claims.