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Trading Tips & Expectations for Nonfarm Payrolls this Friday!
EUR-USD at 2.5 Year High, USD Calling NFP for Help.
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Is The Game Over For The US Dollar, Or Is There Still Hope?
The markets have just seen the US Dollar weakening against the Euro. The EUR/USD reached the highest level in over 2.5 years after the Jackson Hole and tensions with North Korea. Now traders have high hopes for some healing on their favorite: Nonfarm Payrolls!
Despite the downtrend in USD, NFP numbers showed powerful increases in the last 2 months. However, analysts expect the US employment to start slowing down this month.
Can NFP take control of the situation, or is the USD doomed?
Carry on reading for important details, charts and tips!
| Reports due Friday, September 1st @ 12:30 (GMT) | Country | |
|---|---|---|
| Name: | Nonfarm Payrolls | US |
| Previous / Forecast: | 209K / 180K | |
| Name: | Unemployment Rate | |
| Previous / Forecast: | 4.3% / 4.3% | |
| Name: | Average Hourly Earnings | |
| Previous / Forecast: | 0.3% / 0.2% | |
What’s going on with EUR/USD?
Trading Tip
Nonfarm Payroll Employment Change is the most exciting economic indicator in the world. The US economy is the largest in the world, and NFP reveals if more or less people found jobs in the past month.
As the USD is bound to be affected deeply, it carries the potential of moving all USD-related assets including:
- Currency Pairs like EUR/USD, GBP/USD and USD/CAD.
- Commodities like Gold, Silver and Platinum.
- Indices like Dow Jones, S&P 500 and NASDAQ.
Contact your account manager now, and prepare your portfolio for action!
