Will NFP Boost The USD?

Will NFP Boost The USD?

Happy Friday, dear traders! The US economy will show us how it feels today at 15:30 GMT+3. The US Bureau of Labor Statistics will publish Average Hourly Earnings, Unemployment Rate, and Non-Farm Employment Change (NFP). Let's check more news moving markets today!

  • Amazon allayed investor fears with strong e-commerce and cloud computing sales, with the stock up 8.7% in post-market trading on Thursday.
  • Tesla deliveries to China fell 31% in July to the lowest level this year. However, the stock gained 2% yesterday. 
  • Oil prices are preparing to close higher for the 6th week in a row after the decision of Saudi Arabia and Russia to cut production in September.
  • Apple grew revenue in China by a surprisingly strong 8% while setting a record for Indian iPhone sales. The rest of the report shows the third straight quarter of declining sales. Apple expects the downturn to continue. 
  • The RBA said that it had tightened the monetary policy significantly. The result is yet to be seen. Inflation in Australia continued to decline in the June quarter from its peak at the end of last year, but it remains too high.

US dollar index


The US dollar index broke above the descending trendline. Currently, the price is looking toward the 103.46 resistance. Thus, we can suppose today's report will push the USD higher. 

However, the overall idea will be declined if the index drops below the trendline. In this case, it will head to 101.45, pushing EURUSD and XAUUSD higher. 



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