NFP Is in Focus Today

NFP Is in Focus Today

Hello, guys! Friday is here, and Nonfarm Payrolls is almost here, too. Let’s look at the most important events in the market. 

EU economy

According to ECB meeting minutes: ECB members agree with an assessment that points to a possible unexpected slowdown in economic activity in the Eurozone; more rate hikes will be needed if inflation does not ease; a rate hike in September would be necessary unless there is convincing evidence that the effect of the aggregate tightening of the monetary policy was strong enough to reduce inflation in line with the plan to bring inflation to the target of 2%

Meanwhile, Bank of America Corp. and JPMorgan Chase & Co. expect the single currency to fall to $1.05, a level last seen during the banking crisis in March. BNP Paribas Asset Management looks even lower: the price, in their opinion, can reach $1.02. 

The price bounced back from 1.09100 and returned back to the support line at 1.08350. The local trend is still bullish: the pair may rise on the NFP release, but in the weekly timeframe the situation is not so optimistic - 200MA is heading down as well as the linear regression channel. If bears succeed in breaking 1.07650 - the pair will move to 1.06000. BofA and JP forecasts don't look so unreachable. 


Oil Market and Canadian Economy

According to Bloomberg, Saudi Arabia is expected to extend oil production cuts until October. Meanwhile, Forbes announced that Russia will cut oil exports by 300,000 bpd to June in September. OPEC+ countries are fighting for the high oil price. Yesterday, XBRUSD increased by 1.75%. The price has almost reached its local highest high level at $87.70.

Canadian GDP is published today at 3-30 PM GMT+3. Experts think that in the second quarter, the economy grew by 0.3% vs. 0.8% a quarter earlier. The Canadian trade balance deficit started increasing; the unemployment rate jumped to 5.4% from 5.0% - fewer people had money to spend, leading to the Ivey PMI moving lower than the crucial 50 points. The economy is slowing down. That’s why the forecast makes sense.

Nonfarm Payrolls Release

Initial jobless claims in the US were released better than expected – 228K vs. 235K in the forecast. The 4-week average indicator grew and reached 237.50 K. Continuing jobless claims are rising. According to Challenger, Gray&Christmas the number of job cuts jumped. We think the US labor market has started slowing and expect the unemployment rate to be higher than 3.5%. The US dollar may fall.

XAUUSD started moving in flat. The market participants are waiting for the NFP release. If the dollar falls, XAUSD will jump up. The nearest resistance is approximately $1950.

Trade on Gold Here


Earnings Season is In Focus
Earnings Season is In Focus

Several largest American companies will publish their financial results this week. BTCUSD and XAUUSD are skyrocketing. What's going on in the markets?

Can XAUUSD Move Higher?
Can XAUUSD Move Higher?

The dollar's status as the world's reserve currency could only be recovered if the US controls its spending. The huge budget deficit and rising interest rates on the US national debt should scare every American, analysts say. Read the full report to learn more!

Latest news

The Yen Sets New Lows
The Yen Sets New Lows

The Japanese yen fell to its lowest level against the US dollar in 33 years. Read the full report to learn the next target for USDJPY!

BlackRock CEO Supports The USD
BlackRock CEO Supports The USD

BlackRock CEO forecasts the Fed may have to raise rates further. The US dollar index (DXY) gains 130 points today. Read the full report to get more fresh news and technical analysis!

Deposit with your local payment systems

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.


A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera