Jobs Friday is coming!
Yes, this Friday we are having one of the most important reports for the US Economy and the World as well!
The question is:
How many jobs were added in April, considering Government and Private Sector, in the US?
The number is important because it gives investors a view if the Economy is getting stronger or weaker.
Above forecast = Stronger Economy = Dollar historically goes positive
Below forecast = Weaker Economy = Dollar historically goes negative
What Happened last month:
U.S. Firms Added Most Workers in Nine Months in April, ADP Says
EUR/USD: Techs lean bearish ahead of US non-farm payrolls
EUR/USD will likely revisit the recent low of 1.1110, as suggested by technical charts, if the US non-farm payrolls and more importantly, the wage-price inflation, scheduled for release at 15:30 today, blows past expectations.
Ahead of the Fed, the EUR/USD could take cues from German Bundesbank President Weidmann’s speech (due at 11:00 GMT) and the preliminary Eurozone consumer price index for April, scheduled for release at 12:00 GMT.
Short below 1.1210 with targets 1.1110 & 1.1085 in extension.
Price of Gold Fundamental Daily Forecast – Could Break Sharply if Payrolls Jump Above 210K
Non-Farm Payrolls are estimated to have risen 180k. The unemployment rate is expected to come in unchanged at 3.8% and Average Hourly Earnings are expected to have risen 0.3%.
Unless there is a huge miss to the downside in the U.S. Non-Farm Payrolls for April, there should be little in the news that could boost gold prices
Short below 1278.80 with targets 1261.19 & 1256.16 in extension.
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