US Nonfarm 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. Update: Non-Farm Payrolls only 142K – USD Dives Published on Friday at 12:30 GMT. 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 can affect the direction of EUR/USD. Nonfarm Employment Change disappointed in August, slipping to 173 thousand, well short of the estimate of 215 thousand. This marked a 5-month low for the key indicator. The markets are expecting a strong rebound in September, with a forecast for 202 thousand. Sentiment and Levels Monetary policy divergence is likely to continue weighing on the euro. With both the ECB and the Fed sounding more hawkish than expected, this means ongoing euro printing from the ECB and a rate hike in 2015 from the Fed, and this supports a drop. The weak inflation figures in the euro-area could serve as a reminder that the ECB may have to provide additional stimulus. So, the overall sentiment remains bearish on EUR/USD towards this release. Technical levels, from top to bottom: 1.1373, 1.13, 1.1215, 1.1113, 1.1050 and 1.0950. 5 Scenarios Within expectations: 198K to 206K. In such a scenario, the EUR/USD is likely to rise within range, with a small chance of breaking higher. Above expectations: 207K to 212K: An unexpected higher reading could send the pair below one support line. Well above expectations: Above 212K: Such an outcome could push the pair lower and two or more support lines could fall as a result. Below expectations: 192K to 197K: A weaker reading than forecast could result in EUR/USD breaking above one resistance line. Well below expectations: Below 192K. If the reading is very weak, the pair could break above two or more resistance lines. For more about the euro, see the EUR/USD forecast. 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 USDCAD Drops Lower On Corrective Weakness FX Tech Strategy 7 years US Nonfarm 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. Update: Non-Farm Payrolls only 142K - USD Dives Published on Friday at 12:30 GMT. 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 can affect the direction of EUR/USD.… 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.
