Countdown to Non-Farm Payrolls, USDJPY Slips

September 6, 2013

There was a significant amount of economic data from Europe on Friday which knocked around the euro and sterling in the European session but in reality the markets are just on edge waiting for the all-important nonfarm payrolls later in the U.S. session.

The Fed will watch closely as job creation is key for their decision on tapering.

The British pound had a big drop following worse than expected trade balance data and manufacturing data.

GBPUSD fell 45 pips form the London open to a session low of $1.5563 but buying on dips helped it bounce a bit going into the U.S. session.

Euro slipped for a second day versus the dollar to a low of $1.3104 where it found support. A weak German industrial production data weighed on the single currency which fell yesterday after Mario Draghi’s dovish comments.

The U.S. dollar reversed gains made against the yen and fell back below the key 100 yen level as investors took opportunity to book profits ahead of the U.S. jobs data. Any weak number could knock USDJPY lower than the 99.49 low reached in the European session today. 

The greenback performed even worse against loonie (Canadian dollar) as USDCAD extended lower to $1.0437, down 45 pips.  The pair is down 100 pips on the week. 

Canadian jobs data are also due at the same time the U.S. jobs will be released at 8:30 am New York time.

U.S. nonfarm payrolls are expected to increase by 180,000 from 162,000, while in Canada, 21,200 new jobs are expected to be added, up from a previous decrease.

Publication source
FxNet information  FxNet reviews

December 2, 2016
Equities headed broadly south in Asia overnight
Revealed a solid 53.2 November ISM reading and a 0.5% October construction spending rise that followed big upward Q3 revisions, both of which lifted prospects for GDP. We also saw a 17k Thanksgiving week spike in claims that reversed the remarkably tight 333k Veteran's Day figure...
December 2, 2016
Silver lining for precious metals?
I do apologise in advance for bombarding you with lots of commodity reports, but ahead of Friday’s NFP report, the FX markets tend to create lots of false moves, so it is difficult to make much of todays moves...
December 2, 2016
Payrolls Friday. USDJPY doji, third time's a charm
Its payrolls Friday and the markets are expecting to see a solid print for November following Wednesday's ADP payrolls increase. Yesterday, the ISM and Markit's manufacturing PMI showed a strong increase in the reading...

 FXTM Rating
FBS Rating
FIBO Group Rating
Vantage FX Rating
FOREX.com Rating
Fort Financial Services Rating

OptionsXO Rating
Banc De Binary Rating
OptionBit Rating
IQ Option Rating
Porter Finance Rating
Anyoption Rating