Online Forex broker
Judging by market expectations, the NFP data coming in a few hours today are going to be very heavy. The previous release referring to the month of March brought the shocking -701K jobs removed from the labor market. That ended almost 10 years of unstoppable expansion and did that in a very fierce manner. The unemployment rose to 4.4% the last time, but compared to what may come today, this number may appear absolutely insignificant.
Observers forecast the labor market in the US to shrink by 22mln jobs – something unseen since the times of the Great Depression. Noting the total initial jobless claims at more than 33mln accumulated since late March, that figure appears to be as reasonable as devastating. The unemployment is thought to reach 16% - something no one would believe possible just a couple of months ago. Based on that, there may be several scenarios.
In this scenario - which is actually most probable as the market factored in the coming heavy data for April pretty long ago - the actual NFP figures will be roughly within the forecast. If that happens, the USD is likely to be relatively impartial. If the data undershoot the expectations but not too far away, the USD/JPY may lose and the EUR/USD may gain a bit.
Noting the particularity of the situation, it implies that the data will be really devastating. Although it is hard to believe that, we cannot exclude the possibliity that what comes will be significantly below the forecast. Obviously, the USD will drop value in this case but later on will probably quickly recover the loss - it's important to be prepared for that recovery.
Being statistically fair, this is also a possibility. If April NFP reveals brighter spots in the market, the USD will gain value.
So brace yourself and get ready to trade some turbulent news.
Last week was very interesting for the markets, as we saw the releases of the US Inflation and Disney’s earnings report. So let's see what we should await this week!
The volatility that the markets experienced last week promises the second tidal wave! What should your favorite assets anticipate during the first week of February?
The US will reveal Non-farm payrolls on January 7, Friday, at 15:30 GMT+2 (MetaTrader time).
The Australian Bureau of Statistics will announce the updated Unemployment Rate and Employment Change data on Thursday, May 19, at 04:30 MT.
The UK Office for National Statistics will publish Consumer Price Index (CPI) data on Wednesday, May 18, at 09:00 MT.
The US Census Bureau will announce Core Retail Sales and Retail Sales on Tuesday, May 17 at 15:30 MT.
FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.
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!
Beginner Forex book will guide you through the world of trading.
We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.
|
