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. NFP only 38K – USD crashes – live blog 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 plunged in April to 160 thousand, well below the estimate of 203 thousand. Little change is expected in the May report, with an estimate of 159 thousand. Sentiment and Levels In the Eurozone, weak inflation figures will likely mean looser monetary policy for longer, and a dovish message from Mario Draghi could send the euro lower. In the US, a June rate hike isn’t likely, but one in July is certainly an option. The monetary policy divergence play could continue this week. So, the overall sentiment is neutral on EUR/USD towards this release. Technical levels, from top to bottom: 1.1375, 1.1335, 1.1230, 1.1175, 1.1140 and 1.1070 5 Scenarios Within expectations: 155K to 163K. In such a scenario, the EUR/USD is likely to rise within range, with a small chance of breaking higher. Above expectations: 164K to 168K: An unexpected higher reading could push the pair below one support line. Well above expectations: Above 168K: Such an outcome could push the pair lower and two or more support lines could fall as a result. Below expectations: 150K to 154K: In this scenario, EUR/USD breaking above one resistance line. Well below expectations: Below 150K. A very weak 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 Elliott Wave Analysis: bulls pushing USDCHF higher within final Gregor Horvat 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. NFP only 38K - USD crashes - live blog 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… 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.
