The nonfarm payroll is coming up on June 4, May CPI is next week, June 10.
TD Ameritrade paint the picture on US equities, but could well apply to FX today here in Asia also:
- "We're in a bit of a holding pattern, where the major indices remain just below all-time highs but the momentum hasn't been there for a test of those levels"
- "It's understandable, really, when you consider the possible ramifications of the data coming up not just this week with jobs but next week with May consumer prices. People may not be comfortable stepping into big new positions with so much news ahead and the Fed waiting in the wings"
The Federal Reserve Federal Open Market Committee meet on June 15 and 16. Expectations are for not much at this meeting but if the data releases ramp higher (for both jobs and inflation) talk of taper will ramp up again.
Is the groundwork being laid?
