US Non-Farm Employment Change measures the change in the number of newly employed people in the US, excluding workers in the farming industry. A reading which is higher than the market forecast is bullish for the dollar. Here are the details and 5 possible outcomes for EUR/USD. Published on Friday at 12:30 GMT. Update: Non-Farm Payrolls +192K, good details – market undecided Indicator Background Job creation is one of the most important leading indicators of overall economic activity. The release of US Non-Farm Employment Change is highly anticipated by the markets, and an unexpected reading could affect the direction of EUR/USD. Non-Farm Employment Change has been steadily rising, and climbed to 175 thousand last month, well above the estimate of 151 thousand. Will the upward trend continue? The markets think so, with the estimate standing at 199 thousand for the March release. Sentiment and Levels Recent comments from Mario Draghi were a clear indication that the ECB wants to keep EUR/USD from crossing 1.40, and it probably wants it even lower. Even if the ECB does not act on Thursday, the central bank’s rhetoric will probably weaken the currency. Soft German inflation numbers strengthen the notion. In the US, we see no real retreat from Yellen’s “6 month from QE end to rate hike” comment, which sent the dollar higher. US data has been positive, and if this week’s employment releases meet expectations, the dollar should keep its bid. So, the overall sentiment is bearish on EUR/USD towards this release. Technical levels, from top to bottom: 1.3895, 1.3830, 1.38, 1.3740, 1.37 and 1.3650. 5 Scenarios Within expectations: 194K to 204K. In such a scenario, the EUR/USD is likely to rise within range, with a small chance of breaking higher. Above expectations: 205K to 211K: An unexpected higher reading could send the pair below one support line. Well above expectations: Above 211K: The chances of such a scenario are low. Such an outcome could prop up the pair, and a second support line could fall as a result. Below expectations: 187K to 193K: A weaker reading than forecast could result in EUR/USD pushing above one line of resistance. Well below expectations: Below 187K. In this scenario, the pair could move above a second resistance line. For more about the euro, see the EUR/USD forecast. To follow this event live: [do action=”calendar-event” eventid=”9cdf56fd-99e4-4026-aa99-2b6c0ca92811″/] Kenny Fisher Kenny Fisher Kenny Fisher - Senior Writer A native of Toronto, Canada, Kenneth worked for seven years in the marketing and trading departments at Bendix, a foreign exchange company in Toronto. Kenneth is also a lawyer, and has extensive experience as an editor and writer. Kenny's Google Profile View All Post By Kenny Fisher Opinions share Read Next Canadian employment: + 42.9K, unemployment rate drops to 6.9% Yohay Elam 8 years US Non-Farm Employment Change measures the change in the number of newly employed people in the US, excluding workers in the farming industry. A reading which is higher than the market forecast is bullish for the dollar. Here are the details and 5 possible outcomes for EUR/USD. Published on Friday at 12:30 GMT. Update: Non-Farm Payrolls +192K, good details - market undecided Indicator Background Job creation is one of the most important leading indicators of overall economic activity. The release of US Non-Farm Employment Change is highly anticipated by the markets, and an unexpected reading could affect the direction of… 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.
