Focus On The US Non-Farm Payrolls Today

Focus On The US Non-Farm Payrolls Today

Pay attention to the US Non-Farm Payrolls today! The US Jobs Report will be released at 12:30 p.m. (GMT).

Why Is This Important?

The Non-Farm Payrolls track the change in the number of people employed by the US in manufacturing, construction, and goods companies. It does not include farming industry employment. The US Jobs Report is so important for the upcoming Fed decisions.

The euro traded near a one-month high versus the greenback after German central bank chief Jens Weidmann cautioned against inflation risks and urged slowing the European Central Bank's bond buying

US Data on Thursday showed the number of Americans filing new claims for jobless benefits fell last week

The number of Americans filing new claims for jobless benefits fell last week, while layoffs in August dropped to their lowest level in more than 24 years, suggesting the labor market was charging ahead despite new COVID-19 infections.

Fed chair Jerome Powell said last week that the jobs recovery would determine the timing of the asset purchase tapering.

US Nonfarm Payrolls are expected to rise 728 in August from 943K in the previous month. The Unemployment Rate is expected to drop to 5.2% from 5.4%. Average hourly earnings are expected to come out 4.0%, year on a year basis.

EURUSD: Ahead of the US Non-Farm Payrolls, the EURUSD pair is now trading above the 1.1867 main level. As long as the pair stays above 1.1867, on a four-hourly basis, we will follow 1.1919 as the main resistance level. On the downside, if the price drops back below 1.1867, the next support level will be at 1.1819

Support: 1.1867 - 1.1819 - 1.1744

Resistance : 1.1919 - 1.1994

GBPUSD:  The GBPUSD pair closed last week below the 1.3883 key resistance level. As long as the pair stays below 1.3883, on a four-hourly basis, we will follow 1.3784 as a daily support level. Otherwise, if the price rises above 1.3883, the next daily resistance level will be at 1.4005

Support: 1.3784 - 1.3688 - 1.3599

Resistance: 1.3883 - 1.4005

USDJPY: The USDJPY pair is trading above the 109.72 main support level. As long as the pair stays above 109.72 on a daily basis, we will watch the resistance level at 110.36. On the other hand,  if the price drops below 109.72, the next support level will be placed at 109.39.

Support: 109.72 - 109.39 - 109.09

Resistance: 110.36 - 110.93 - 111.52

GOLD: The Gold price is now trading above the 1805 main support level. As long as the price stays above 1805, on a daily basis, we will see the daily resistance level at 1829. On the downside, if the price breaks down below 1805, the next support level will be at 1785.

Support: 1805 - 1785 - 1763

Resistance: 1829 - 1854 - 1873

03 Sep 21 (Fri)

02:48 am



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