All eyes on nonfarm payrolls

Currency markets were quiet in the Asian session today and most currency pairs consolidated yesterday’s moves. It is expected to be a quiet day as many major markets will be closed for the Good Friday Easter holiday. The only major data release today will be the US nonfarm payrolls report.

The US job sector is expected to remain solid, with forecasts showing that nonfarm payrolls increased 245,000 in March after rising 295,000 in February. In such as case, an increase last month would mark the 13th consecutive month of job gains above 200,000, the longest streak since late 1993.

The unemployment rate is forecast to hold steady at a more than 6-1/2 year low of 5.5 percent. It is now in territory that some Fed officials consider consistent with full employment. The labor market situation in the US will help with the Federal Reserve’s plans for raising interest rates

A strong NFP number would be positive for the greenback. USD/JPY traded in Asia in a tight range between 119.60 and 119.77.

The euro held onto gains made yesterday after EUR/USD hit a high of 1.0914 and traded in Asia between 1.0863 and 1.0884.

The post All eyes on nonfarm payrolls appeared first on Forex Circles.

Source:: All eyes on nonfarm payrolls

About the Author
ForexTime Ltd (FXTM) is an award winning international online forex broker regulated by CySEC. Our mission is to maximize the value our clients derive from their most precious commodity, "Time"! By offering advanced and innovative services, optimal customer care and perpetual devotion to our clients, we will ensure that their individual needs are always met as markets continue to evolve over time. Visit ForexTime to learn more [space height="20"] [social type="facebook"][/social] [social type="twitter"][/social] [social type="google-plus"][/social] [social type="youtube"][/social]

Related Posts

Leave a Reply