Today is an historic day for Non Farm Payrolls, normally the madness happens on a Friday, so the effects are short term, today we get NFP on a Tuesday, this means the effects could last all week. Also, the fact that the dollar has been weaker against other currencies. BAD NFP figures could further fuel the fire of the USA not tapering its bond buying plan that would cause a drop in the dollar. It could further fuel the buying of Gold/Silver and other non-fiat currencies.
Of course yesterday’s trading was incredibly slow and tedious due to the waiting for these results.
So here is the key data for today
|13:30||US||USD||Nonfarm Payrolls (Sep)||3||180K||169K|
|13:30||US||USD||Average Hourly Earnings (MoM) (Sep)||2||0.2%||0.2%|
|13:30||US||USD||Average Hourly Earnings (YoY) (Sep)||2||2.1%||2.2%|
|13:30||US||USD||Average Weekly Hours (Sep)||1||34.5||34.5|
|13:30||US||USD||Unemployment Rate (Sep)||3||7.3%||7.3%|
My guess 171000.
I can’t find the normal thing Bloomberg do with the experts predictions. But let’s just say it could either go mad or do virtually nothing. Just depends on the results.
Have a great day everyone.