We are back to the US employment report day and the prospect for volatility is greater than normal. The median expectation is for a rise in payrolls of 180k, after the weak 74k outturn of December, but the range of estimates is large (from 105k to 270k) as the January data are again likely to have be impacted by the bad weather. The dollar is likely to be more vulnerable to a weaker number (below 100k), which would then throw into question the ability Fed’s ability to continue with the tapering of asset purchases at the pace achieved in the past two months. The other aspect to watch will be the unemployment rate, which is seen holding steady at 6.7%, but this has consistently come in below expectations since the middle of last year. Elsewhere, the euro was stronger yesterday in the wake of the ECB press conference. The move reflects a market that was more confident of some policy measures, either actual or hinted at, as a means of deflecting the risk of deflation in the Eurozone. The impression given was that the ECB does not yet have the internal consensus on where policy goes next, because when rates are already at 0.25% and money market rates have moved higher since the last easing of interest rates in November, the remaining options are neither easy, nor conventional. The final point to note is that emerging markets remain on a more comfortable footing than was the case a week ago, which reduces the risks from payrolls today feeding through to EM currencies. Both the Turkish Lira and South African rand are 0.8% and 1.9% firmer against the dollar compared to a week ago. This reflects our view that what we are seeing in this area is more aligned to a return to more normal volatility, rather than the start of a more prolonged and sustained ‘crisis’. Further reading: EUR/USD Feb. 7 – Ticking lower under high resistance towards the NFP, after the Draghi rally EUR/USD: Trading the US Non-Farm Payrolls FxPro - Forex Broker FxPro - Forex Broker Forex Broker FxPro is an international Forex Broker. FxPro is an award-winning online broker, offering CFDs on forex, futures, indices, shares, spot metals and energies, serving clients in more than 150 countries worldwide. FxPro offers execution with no-dealing-desk intervention and maintains a client-centric business model that puts customer needs at the forefront of our operations. Our acquisition of leading spot FX aggregator, Quotix, enables us to offer access to a deep pool of liquidity, as well as top-class order-matching and some of the most competitive spreads in the market. FxPro is one of only few brokers offering Negative Balance Protection, ensuring that clients cannot lose more than their overall investment. FxPro UK Limited is authorised and regulated by the Financial Conduct Authority (registration number: 509956). FxPro Financial Services Limited is authorised and regulated by the Cyprus Securities and Exchange Commission (licence number: 078/07) and by the South Africa Financial Services Board (authorisation number 45052). Risk Warning: Trading CFDs involves significant risk of loss. View All Post By FxPro - Forex Broker Daily Look share Read Next EUR/USD: Trading the US NFP Feb 2014 Kenny Fisher 9 years We are back to the US employment report day and the prospect for volatility is greater than normal. The median expectation is for a rise in payrolls of 180k, after the weak 74k outturn of December, but the range of estimates is large (from 105k to 270k) as the January data are again likely to have be impacted by the bad weather. The dollar is likely to be more vulnerable to a weaker number (below 100k), which would then throw into question the ability Fed's ability to continue with the tapering of asset purchases at the pace achieved in the… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk.4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk.5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.