TWO MAIN EVENTS OF WEEK: ECB DECISION AND NONFARM PAYROLLS
On Thursday, June 4 the ECB Interest Rate Decision and on Friday, June 5 May Nonfarm Payrolls are to be released.
The main Bank's goal is to support the national currency and stimulate economic growth. NFP shows changes in the number of people employed in the USA non-farm sector. The total number of employed in this sector is about 80% of workers producing the USA GDP.
FreshForex analyst tells what to expect from these meetings.
"The ECB will indicate the necessity to increase the repurchase of assets. Traders are waiting for the expansion of the incentive program by 650 billion euros. This is good news for stock indices. On Thursday, consider buying #DAX30, #CAC40, #SP500, #DJI30"
"The United States is gradually lifting quarantine restrictions, which will have a positive effect on the labor market. On Friday, consider buying #SP500, #DJI30, #MasterCard, #DAX30"
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