G20 Meetings (Day 1), the Group of Twenty (G20) is an important global policy-making figure effective at the uppermost level, which impact the cash markets.

In the US, Federal Open Market Committee (FOMC) Statement, the main FOMC key tool regarding monetary policy. It forecast the interest rates and other policy measures.

In the US, Unemployment Claims, individuals who filed for unemployment insurance for the first time during the past week; is about to droop down by 34K.

In the US, American Unemployment Claims dropped more than than expected  to 434K from 455K in the week before. This encouraging decrease in this major weekly indicator gave a positive shift in the market last week. A drop below 430K will signal a real positive transition in the Job market though claims have wavered around 450,000 for most of this year with several drops below this figure but they have always rebounded in subsequent weeks. A small rise to 437K is expected to continue the optimistic trend strengthening the USD.

In the US, Federal Market Committee Interest Rate Announcement is not expected to raise rates. The U.S. Non-Farm Payrolls report showed the economy losing larger-than-expected amount of jobs in July increasing the odds that the Fed could be forced into offering additional monetary policy stimulus keeping Federal Funds Rate at 0.25%.

In the US, A drop of 6000 in the number of new unemployment claims filed during the past week after a steady drop in the last two weeks which is a hopeful sign for the market’s recovery and will also provide a hint towards tomorrow’s big event – Non-Farm Payrolls.

Things are shaky in the forex market. The dollar weakened during the week but then erased the losses after the ADP Non-Farm Payrolls was good. The major pair, EUR/USD is currently holding steady. Read Casey Stubbs’ latest analysis for this pair.

Australia starts the day with the NAB Business Confidence, a good indicator for the economy. For more on the Australian dollar, check out the AUD/USD Outlook.

Last week began with a collapse of the dollar. Later on, it began recovering, and then made a comeback on Friday’s surprising Non-Farm Payrolls. Will the greenback stabilize this week? Or are we expected for another volatile week? Here are the major events that will impact currency trading this week:

I apologize before my regular readers – I didn’t publish the forex daily outlook yesterday.