Trading the News: U.S. Non-Farm Payrolls (NFP)
The U.S. Non-Farm Payrolls (NFP) report may curb the recent rebound in EUR/USD[1] as employment is projected to increase 193K in October.
Signs of stronger job/wage growth may heighten the appeal of the greenback as it boosts the outlook for growth and inflation, and it seems as though the Federal Reserve will continue to carry out its hiking-cycle over the coming months as the central bank largely achieves its dual mandate for full-employment and price stability.
In turn, a positive development may encourage the Federal Open Market Committee[2] (FOMC) to implement higher borrowing-costs over the coming months, but another series of lackluster data prints may spark a bearish reaction in the dollar as ‘trade policy developments remained a source of uncertainty for the outlook for domestic growth and inflation.’ Sign up and join DailyFX Currency Analyst David Song LIVE[3] for an opportunity to discuss potential trade setups.
Impact that the U.S. NFP report has had on EUR/USD during the previous release
|
Period |
Data Released |
Estimate |
Actual |
Pips Change (1 Hour post event ) |
Pips Change (End of Day post event) |
|
SEP 2018 |
10/05/2018 12:30:00 GMT |
185K |
134K |
+27 |
+15 |
September 2018 U.S. Non-Farm Payrolls (NFP)
EUR/USD 5-Minute Chart
The U.S. economy added 134K
