The US dollar is heading to close the seventh day in the red as it remains under selling pressure. The US data at 15:30 GMT+3 (jobless claims and Philly Fed Manufacturing Index) may support the greenback if it's strong.
NFP forecasts of 8 major banks
What will happen?
The US will reveal Non-farm payrolls today at 15:30 GMT+3. Here are the forecasts of 8 major banks regarding the upcoming NFP report. The common forecast (market consensus) is 500K. What’s yours?
Westpac is Australia's leading bank, located in Sydney. Its economists predict NFP at 600K.
The ING Group is a Dutch banking and financial services corporation headquartered in Amsterdam. The bank expects 450-500K in non-farm payrolls.
TD Securities is a reliable Canadian investment bank. According to economists at TD Securities, NFP will be 525K due to “some normalization in education at the start of the new school year”.
RBC Economics provides economic analysis and forecasts to the largest bank in Canada - the Royal Bank of Canada and its clients. The analysts anticipate NFP at 425K and the unemployment rate at 5.3% (worse than the market consensus of 5.2%).
Deutsche Bank is a multinational investment bank and financial services company headquartered in Frankfurt, Germany. Its analysts forecast “NFP growing by 400K and the unemployment rate ticking down to a post-pandemic low of 5.1%”.
The Canadian Imperial Bank of Commerce commonly referred to as CIBC, is one of the "Big Five" banks in Canada. CIBC analysts suggest that around 420K jobs were added.
JP Morgan is a US multinational investment bank headquartered in New York City. The bank is looking for a 575K increase in jobs and a drop in the unemployment rate to 5% because of “the expected rebound in the leisure and hospitality sectors”.
Headquartered in Copenhagen, it is the largest bank in Denmark and a major retail bank in northern Europe. Danske Bank’s analysts said that NFP “around 300K or above will be enough for the Fed to go ahead with tapering.”
Follow the NFP report at 15:30 GMT+3 (MetaTrader time). Don’t know how to trade on NFP? Learn our strategy!
The United States will release the weekly Unemployment Claims on October 21, at 15:30 MT time (GMT+3).
The Fed is ready to start tapering in November. Since the markets were expecting this and it wasn’t a surprise, the USD slumped allowing risk-on currencies and gold to rally up.
S&P 500 and Nasdaq are still near all-time highs, supported by robust corporate earnings. Gold keeps moving inside the ascending channel.
What will happen? ECB will report its Monetary Policy statement at 14:45 MT (GMT+3) on Thursday, October 28…
What will happen? BOC will report its Monetary Policy statement at 17:00 MT (GMT+3) on Wednesday, October 27…