FUNDAMENTAL OVERVIEW FOR THE WEEK (February 5-9, 2024)

The dollar closed the first calendar month on a strong major note. A weighty and robust labor market report on Friday and hawkish tones in the Fed's statements on Wednesday did their 'green' job - significantly strengthening the dollar against major currency competitors. Now, the euro-dollar has good chances to dip below 1.05 again.

Last night, Powell gave an interview where he confirmed that the Fed would act cautiously on rate cuts, but likely, there will be fewer cuts than the market expects. The labor market pleased - no need to rush. Reverence in favor of the American currency bulls.

The current week will be quite calm in terms of fundamentals.

Three relatively important macroeconomic indicators for the United States will be released - US ISM Non-Manufacturing PMI on Monday, trade balance on Wednesday, and jobless claims a day later.

What's important on Monday?

The aforementioned star-spangled report on the services sector, as well as the PMI business activity index for Europe and the speech of the known hawkish Fed member Bostic at the end of the day.

Good luck and well-considered investment decisions!