Market awaits Non-Farm Payrolls report

10 January, 2020

On Thursday, January 9, the euro was up one point at the close of trading. The price consolidated at 1.1105, in a narrow range. It was business as usual after President Trump's speech on Wednesday, as the markets braced themselves ahead of the publication of the US Non-Farm Payrolls report, scheduled for later on today.


Today’s events (GMT+3):

  • 09:45 Switzerland: Unemployment Rate s.a (MoM) (Dec).
  • 10:45 France: Industrial Output (MoM) (Nov).
  • 16:30 Canada: Net Change in Employment (Dec).
  • 16:30 USA: Nonfarm Payrolls (Dec), Average Hourly Earnings (YoY) (Dec), Labor Force Participation Rate (Dec).
  • 21:00 USA: Baker Hughes US Oil Rig Count.

The price did not recover to 1.1130, as predicted. In fact, it was in a horizontal range of 1.1100-1.1120. In six hours, we can expect the price will meet with the balance line. When this happens, the market will be ripe for sharp fluctuations to occur.

Today, the focus is on the US Non-Farm Payrolls report. It is predicted that employment increased by 164,000 in December, compared with an increase of 266,000 in November, while the unemployment rate stayed around 3.5%. The indicator for jobs is unpredictable, therefore, has a strong influence on the main pairs. On days like this, it is better to refrain from making forecasts. Although technically, the pair is ready to decline.

Trump tweeted that he would sign the trade agreement with China on January 15, the ceremony will take place at the White House with senior Chinese figures in attendance. Chinese Deputy Prime Minister Liu He, who leads the country's negotiating delegation with the US, will be in Washington on January 13-15.


Source   Presented by Alpari
EURUSD: recovery to 1.18 expected17 Sep, 2020  

In line with our forecast for today, we see the euro recovering to 1.1795. If buying picks up momentum after the BoE meeting, there may be enough time left...

EUR/USD to make new cycle highs? Green light for EUR bulls11 Sep, 2020  

The ECB was expected to tread lightly on EUR issues at today's policy meeting after recent central bank chatter about a strong EURUSD being important...

EURUSD pair consolidating near the balance line7 Sep, 2020  

At the time of writing, the euro was trading at 1.1829. The price action is hovering near the balance line. A double bottom pattern has shaped up on the hourly timeframe...


EURUSD: bullish divergence forms on 1-hr timeframe3 Sep, 2020  

The DXY dollar index rose 0.37% to 92.87 on Wednesday, September 2. The index moved higher on the back of a decline in the euro. The single currency fell 0.48%...

Low euro area inflation has not stopped EURUSD2 Sep, 2020  

In the case of Europe, investors see low inflation as a way to preserve the value of capital, which creates negative bond rates in several European countries...

Are the Bears starting to gather?31 Aug, 2020  

The EURUSD currency pair on the D1 time-frame was in a protracted uptrend until 18 August when a higher top was reached at 1.19649. Sellers found...


EURUSD: markets await Powell's speech27 Aug, 2020  

Traders await today's key speech by Fed Chairman Jerome Powell. Investors will be on the lookout for clues about further stimulus from the Fed...

Bulls launch second assault on the 1.19 mark25 Aug, 2020  

The single currency trended higher in line with expectations on Monday, up 30 bps at 1.1818 in Asian trading. Buyers need to break through the trend line in order to close...

Buyers strive to keep the bullish trend alive20 Aug, 2020  

The decline in EURUSD halted at the 135th degree of the Gann angle. This points to a reversal, but the trend might not have legs. In line with our forecast...