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 leap 287K – dollar surges 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 have a substantial impact on the direction of EUR/USD. Nonfarm Employment Change shocked in the May report, plunging to just 38 thousand, well short of the estimate 159 thousand. The markets are forecasting a strong turnaround in June, with an estimate of 174 thousand. Will the indicator rebound as expected? Sentiment and Levels A new reality has descended on Europe, as Brexit is here to stay and is taking its toll on Europe and the euro. The ECB is not keen to act quickly, but may have to follow the BOE which is planning looser monetary policy. Over in the US, monetary policy is not expected to be hawkish, but the economy is in much better shape than the Eurozone. So, the overall sentiment is bearish on EUR/USD towards this release. Technical levels, from top to bottom: 1.1175, 1.1140, 1.1070, 1.10, 1.0905 and 1.0825 5 Scenarios Within expectations: 171K to 177K. In such a scenario, the EUR/USD is likely to rise within range, with a small chance of breaking higher. Above expectations: 178K to 182K: An unexpected higher reading could push the pair below one support line. Well above expectations: Above 182K: Such an outcome could push the pair lower and two or more support lines could fall as a result. Below expectations: 166K to 170K: A weak reading could result in EUR/USD breaking above one resistance line. Well below expectations: Below 166K. A very soft reading could result in the pair breaking 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 EURUSD , GBPUSD , USDJPY and XAUUSD TA – July 7 2016 John Benjamin 6 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 leap 287K - dollar surges 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 have a substantial impact on… 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.
