We arrive at the much-feted first Friday of the month when the US employment report is released. The strength and sustainability of the labour market recovery has never been in much doubt this year. We’ve not see a sub-100 reading on headline payrolls since mid-2012, with the 6 month average having been above 200k for the past 18 months. The market looks for a 200k rise, but it’s worth noting the revisions, with a risk that August is revised higher and the tendency for September to also be revised higher in subsequent releases. The unemployment rate is seen steady at 5.1%, with earnings rising 0.2%. Meanwhile the jobs data in Japan has shown their rate moving marginally higher to 3.4%, but the yen has been content to fight with the 120 level as previously discussed yesterday. Overall, FX has been in a more consolidative mood this week. The potential breakouts we’ve been looking at have generally reversed, such as USDJPY moving lower, EURGBP moving higher and the Aussie failing to break below 0.70 on a sustained basis. It’s difficult to see the dollar reacting massively to the jobs data today, because the markets beta to a potential hike from the Fed has fallen, with the chances of a move this year having diminished and the pricing for October at less than 20%. There’s also a declining beta to what the Fed says, given the false signals peppered through the year to date. Further reading: Get ready for the NFP – Live Europe Market Open from 8:00 GMT Buy AUD/USD Tactically – Morgan Stanley Chart of the Week 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 AUDUSD : More Weakness Expected from 0.7080 Resistance Gregor Horvat 7 years We arrive at the much-feted first Friday of the month when the US employment report is released. The strength and sustainability of the labour market recovery has never been in much doubt this year. We've not see a sub-100 reading on headline payrolls since mid-2012, with the 6 month average having been above 200k for the past 18 months. The market looks for a 200k rise, but it's worth noting the revisions, with a risk that August is revised higher and the tendency for September to also be revised higher in subsequent releases. The unemployment rate is seen steady at… 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.
