After yesterday ECB decision today we have another big risk event which may cause some serious volatility: NFP figures.

I was not expecting to see that kind of behavior on EUR/USD after ECB's new market policy, however I'm not expecting EUR/USD to develop in to a new bearish trend not until 2015 and you can find more reasons why in my previous article: The Case for a Multi-year USD Bullish Trend 

Now coming back to the NFP report there is no way we can beat previous figures of 288k. First quarter US GDP is still weaker than expected and also yesterday we had a preview of what may gone come today as ADP figures came in weaker than expected. By no means you should expect better figures, we may even get some disappointment from current forecast.

Market expectation according to data from Bloomberg for today's NFP reading:

  1. Nonfarm payrolls: +215,000;
  2. Private payrolls: +210,000;
  3. Unemployment rate: 6.4%;
  4. Average Hours Earnings: +0.2% month-over-month, +2% year-over-year;
  5. Average weekly hours: 34.5

Trade safe and may the power be with you

Best Regards,
Daytrader21
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