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2019-11-11 • Updated
As you may probably know, the level of non-farm employment change or non-farm payrolls (NFP) will be released today at 15:30 MT time. It is the leading indicator of consumer spending, that is why it can influence the USD significantly.
The NFP in August reached 201,000 payrolls.
Let’s check what major banks predict about the September digits:
Goldman Sachs – 175,000.
“Strong September employment report, decline in the unemployment rate, firm average hourly earnings, despite the hurricane Florence”
Morgan Stanley – 178,000.
“Growth of the employment level, the lowest levels of initial jobless claims, limited hurricane Florence impact”
Amherst Pierpont – 190,000.
“A slight decline due to the hurricane Florence influence”
Wells Fargo – 210,000.
“Repeat of the August levels, record low levels of initial jobless claims, decline in unemployment rate to 3.8%”
If actual figures are greater than the forecasts, the USD will increase.
Up to now EUR/USD is falling towards the support at 1.1413. If NFP beats the forecasts, the pair will fall below this level. Otherwise, it will go above the resistance at 1.1507.
The past two years have seen the biggest swings in oil prices in 14 years, which have baffled markets, investors, and traders due to geopolitical tensions and the shift towards clean energy.
After months of pressure from the White House, Saudi Arabia relented and agreed with other OPEC+ members to increase production.
Last Friday’s NFP was disappointing. The reaction of the markets was astonishing. Will it last longer? Let's find out the main trade opportunities for the upcoming week.
In the middle of September 2022, the Canadian dollar has fallen to a 2-year low against the USD
The US dollar index has all chances of reaching the 2000s high of 120.00.
The Consumer Price Index announcement by Statistics Canada is set for release in a few hours will reveal the state of inflation in the Canadian economy
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