Non-Farm Payroll

The markets are facing a very important Friday as the NFP( The non-farm payroll (NFP) report is a key economic indicator for the United States. It is intended to represent the total number of paid workers in the U.S. minus farm employees, government employees, private household employees and employees of nonprofit organizations) will be published and provide a direction to the market that as of now is on a form of a standstill/no decision kind of place…

As far as the Forex market  If the non-farm payroll is expanding, this is a good indication that the economy is growing and vice versa. However, if increases in non-farm payroll occur at a fast rate, this may lead to an increase in inflation. In Forex, the level of actual non-farm payroll compared to payroll estimates is taken very seriously.

As the Dollar index continues to grow strong the effect will be more than important this week as the asset is on an important resistance range that looks like this:

Currencies Pairs

GBP/USD – Also will be effected from this NFP as the asset is facing a very important day today with 6 important announcements coming up in 2 hours with very high importance level – follow here – https://www.forexfactory.com

EUR/USD – The asset also suffers a negative momentum for quite a long time and the strength of the Dollar does not really help the price action…

commodity

Gold – looks very negative as the Yellow commodity moves lower while expecting a decision on the Dollar index which will affect it as well…

Share your opinion below- and stay tuned, more to come…