Trading Tips & Expectations for Nonfarm Payrolls this Friday!

August 31, 2017

EUR-USD at 2.5 Year High, USD Calling NFP for Help.


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Trading Tips & Expectations for Nonfarm Payrolls this Friday!

This article is originally referred from AvaTrade News

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!

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Original Source: AvaTrade News

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