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US Non-Farm Employment Change, also known as Nonfarm Payrolls or NFP, will be released at 15:30 MT time on October 5.
The indicator shows how many jobs were created in the United States during the last month. It’s released together with the unemployment rate and the average hourly earnings indicators. All 3 of these indicators have a great impact on the USD.
The last time, on September 7, NFP came out at 201K (readings close to 200K are considered to be strong), and wage growth accelerated to 0.4% (this is the change in average earnings index). The slight disappointment with the unemployment rate didn’t spoil the picture. Traders bought the US currency on the news, and the USD rose versus all major currencies.
• If the NFP indicator is bigger than expected, the USD will go up.
• If the NFP indicator is smaller than expected, the USD will go down.
The risk sentiment remains under pressure after the comments by China about the countermeasures against the US tariffs. Thus, the AUD/USD and the USD/JPY pairs will be under our attention.
During the European trading session, both the US and the UK yield curves inverted.
Levels for Wednesday's trading
On Tuesday, crypto assets dived, with Bitcoin decreasing below the psychologically crucial $5,000 mark for the first time this year…
In July, Britain's inflation rate rallied for the first time in 2018, thus leaving many UK households feeling quite squeezed by prices, soaring at nearly the same tempo as their wages…
Welcome to Tuesday, people! Here’s your markets update ahead of the European trading session.
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