「KOL Analysis•Fanny Arianti Arief」Focus of the Week: FOMC Meeting, US Inflation

The dollar strengthened last Friday after data showing the US labor sector that was not expected to grow in May. But for the past week, the dollar still declined and was erased in the three weeks it received because it was free from the US economy. The US Department of Labor reported payment levels fell to 13.3% in May. The data was released after data showing stable consumer, manufacturing and sector confidence. Economic conditions have improved because business activity has reopened after it closed in March to mitigate the spread of Covid-19. On Friday, the dollar index strengthened 0.18%, but for a week it still declined by 1.4%.

The euro strengthened last week after the ECB announced it would increase the size of the Pandemic Emergency Purchase Program (PEPP) to 1.35 trillion euros ($ 1.52 trillion) from 750 billion euros, up more than 500 billion euros expected to be larger, more expensive, and increased the most quickly June 2021. Still Friday correction, for a week the euro was still raised strengthening by 1.73%.

Gold prices fell more than 2% last Friday due to expectations of economic returns after the release of unexpectedly positive US non-farm payrolls data, reducing demand for safe haven assets Last Friday's data showed non-farm payrolls grew by 2,509 thousand in June, better than expected decline of 7,750 thousand. While the rate of increase also rose to 13.2%, far below the estimated increase of 19.4%. As long as the price of gold and 2.5%.

Oil prices have risen in six consecutive weeks on the back of OPEC + output cuts to stabilize oil prices. The price of WTI oil rose 4.1% to $ 38.95 on Friday, after reaching a three-month high of $ 39.68. Over the past week, WTI type oil increased by 11.4%. Meanwhile, Brent oil also reached its highest level since early March and increased by 19.7% over the past week. Oil prices soared on Friday after US employment data were not expected to increase growth from a previously estimated contraction. Meanwhile, at its meeting last weekend, OPEC + finally agreed to extend the selection of oil trimming until next July by 9.7 bpd. However, this latest agreement does not include Saudi Arabia, the United Arab Emirates and Kuwait will again make voluntary cuts.

Starting trading earlier this week, Asian stocks moved on the green track after US employment data was released against expectations and pushed hopes that the economy will recover quickly. Shares in Japan and South Korea opened higher. While the S&P 500 Index futures also cope this morning's gains, having posted three consecutive weeks of gains.

[About The Author]

Fanny has started her self-learning of Forex since 2005 and has joined an Indonesian broker as a financial consultant in 2009. Through “trial and error”, she has learnt a lot from failure experiences. She is now a renowned trainers for the forex beginners and has helped the clients to get the profits from trade.

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