ONLINE FOREX BROKER
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.
Oil prices rebounded slightly on Friday but are still expected to show losses for the week due to concerns about slowing growth in the US and China. US crude futures rose 2.7% to $70.41 per barrel, while the Brent contract increased by 2.5% to $74.33 per barrel.
China's economy is rocketing. On the other hand OPEC+ countries take the decision to cut the production. What will be the impact on the oil price?
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.
Let's dive into the world of gold. Currently, the price of gold, represented by XAUUSD, is stuck in indecision, hovering around the $1,975 mark. The market is anxiously awaiting two important factors: the release of the Federal Reserve's meeting minutes and the extension of the US debt ceiling.
Hey guys, this is the last full trading week in May, and many forward-looking individuals like myself are already preparing themselves to seize whatever opportunities June may have in store. On this note, I will review a few commodities that have satisfied my quest for swing-trading opportunities in the coming month. Follow me!
The Bank of England (BoE) has dramatically shifted its economic forecasts. They no longer expect a recession in the UK and have upgraded their growth projections. This year, the BoE predicts GDP growth of +0.25%, a significant improvement from previous expectations. Next year's forecast is even more optimistic, with a projected growth of 0.75%.
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