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This is a report only; a report that measures the non-farm private employment, based on payroll data which represents over 240million employees from all 19 of the major North American Industrial Classification (NAICS) private industrial sectors. The effect of this news release is very simple: if the value is above the forecast, USD will be in a bullish state.
But the Forex market isn't mathematics!
The market is very sensitive to sentiments as everybody knows. Actually ECB's monetary forcing maintain euro too strong, contrary to the forecast of the ECB. If we take into account some positives messages from the US economy, these two factors seems to induce a bearish sentiment in the market relative to EUR?USD pair before the ADP Non-FArm Employment Change release. In despite of any news release...
Of course, as usual, there are at least five scenarios for the possible change of the price of EUR/USD pair but, as in other cases, it is possible the price to be bounced up or down by the break of the equilibre between facts - ADP value released, and the sentiments in the market! If there will be such a break!
Till tomorrow, this night (in Europe) Australian Trade Balance news!
Don't forget FIFA World Cup and Wimbledon...
But the Forex market isn't mathematics!
The market is very sensitive to sentiments as everybody knows. Actually ECB's monetary forcing maintain euro too strong, contrary to the forecast of the ECB. If we take into account some positives messages from the US economy, these two factors seems to induce a bearish sentiment in the market relative to EUR?USD pair before the ADP Non-FArm Employment Change release. In despite of any news release...
Of course, as usual, there are at least five scenarios for the possible change of the price of EUR/USD pair but, as in other cases, it is possible the price to be bounced up or down by the break of the equilibre between facts - ADP value released, and the sentiments in the market! If there will be such a break!
Till tomorrow, this night (in Europe) Australian Trade Balance news!
Don't forget FIFA World Cup and Wimbledon...
