How to trade the JPY?
Happy Friday, traders! Are you ready to trade at the end of the week? Here’s what you need to know before you start:
Additional volatility for the USD is expected!
The United States will publish non-farm payrolls (NFP), also known as non-farm employment change on at 14:30 MT time on November 1. As usual, the indicator will be released together with the unemployment rate and average hourly earnings. What these indicators are about? Non-farm payrolls represent the change in the number of employed people during the previous month (without farmers). Traders pay attention to the release, as the USD gets volatile right after it. The unemployment rate shows the percentage of the total workforce that is unemployed but looking for a job. Finally, the indicator of average hourly earnings shows the change in the price businesses pays for labor. According to the forecasts, the number of payrolls will advance by 90 thousand, while the unemployment rate will reach 3.6%. Analysts' projections are poor this time due to the strike of the GM workers and US-China trade uncertainties. At the same time, the level of average hourly earnings is forecast to increase by 0.3%.
• If the actual figures of NFP and average hourly earnings are higher, and the unemployment rate is lower than the forecasts, the USD will rise;
• If the actual figures of NFP and average hourly earnings are lower, and the unemployment rate is higher than the forecasts, the USD will fall.
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Latest news
Increased Volatility is Coming
The Reserve Bank of Australia (RBA) will make a statement and release a Cash Rate on February 7, 05:30 GMT+2. It's among the primary tools the RBA uses to communicate with investors about monetary policy.
Market Crash Incoming?
This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.
What Currency Will Overperform?
S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.
