Market Update: NFP – USD Forex Majors
Hi traders, today we take a look at the upcoming US and Canadian employment data and run over some of the major Forex pairs.
Markets are looking for mixed figures tonight with a drop in the NFP from last month and a drop in average earnings. The expectation is for another fall in the unemployment number, Zero Hedge reported that number could be boosted by temporary census takers.
We review price points across the EURUSD, GBPUSD and AUDUSD but these might mean very little depending on what happens later today. The USDCHF continues to hold it’s trend break, but we want to see more from buyers to break a demand area that price is currently in.
We haven’t discussed this in our video, gold and US indices are also other markets to keep an eye on after the employment data release. Gold remains in a daily triangle consolidation pattern and last night was the first in a while we have seen solid selling on US indices.
Key news to come;
10:30 pm AEST US Average hourly earnings, non-farm employment change and the unemployment rate. Canadian employment change and unemployment rate.
We hope everyone has a lovely weekend.
Today’s Market Analysis Video