There’s a reason why #NFPGuesses trends on Twitter on payroll day, because that’s what they are for the most part, guesses. Some people spend an inordinate amount of time forecasting the various components and there’s probably some mileage in it, but then come revisions to the prior months and most of the good work is blown out of the water. The chart below shows the recent EURUSD reaction to payrolls reports. Comparing this to some of the reaction we saw at the tail end of last year, the signs are the dollar is less sensitive to payrolls surprises. This makes sense for two reasons. Firstly, the possibility of a rate move at the next two meetings is pretty slim, so we’d have to see a fairly large outlier for the data to change that perception. Secondly, Yellen intimated in her speech earlier this week that the inflationary consequences of the unemployment rate below the 5% level were less than would have previously been the case. Looking at overnight action, we’ve see the Nikkei weaken by more than 3% overnight, although the reaction the yen was limited compared to the historical relationship between stocks and USDJPY. The weakness in the latest Taken survey played a part in that. We also saw more PMI data in China, with the manufacturing release showing a welcome move north, from 49.0 to 50.2. Ahead of US jobs, we also have final PMI data for the Eurozone, together with manufacturing data for the UK at 08:30 GMT. Sterling was interesting yesterday, initially rising on the upward revision to Q4 GDP, but then sagging as the thought of a 7% current account deficit weighed heavily on the currency and rightly so. Further reading: 4 Reasons To Stay Positive On The USD In The Coming Months – ANZ Getting ready for the NFP – Live Market Open from 7:00 GMT 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 Forex Crunch Key Metrics March 2016 Yohay Elam 6 years There's a reason why #NFPGuesses trends on Twitter on payroll day, because that's what they are for the most part, guesses. Some people spend an inordinate amount of time forecasting the various components and there's probably some mileage in it, but then come revisions to the prior months and most of the good work is blown out of the water. The chart below shows the recent EURUSD reaction to payrolls reports. Comparing this to some of the reaction we saw at the tail end of last year, the signs are the dollar is less sensitive to payrolls surprises. This makes… 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.