{"id":133332,"date":"2018-09-07T06:20:29","date_gmt":"2018-09-07T10:20:29","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=133332"},"modified":"2018-09-07T06:06:11","modified_gmt":"2018-09-07T10:06:11","slug":"eurusd-all-eyes-on-nfp","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/09\/eurusd-all-eyes-on-nfp\/","title":{"rendered":"EURUSD: all eyes on NFP"},"content":{"rendered":"<div id=\"inves-3662249391\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">September 7, 2018<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p><strong>By Gabriel Ojimadu, Alpari<\/strong><\/p>\n<div class=\"reviews-item__content\">\n<p><strong><em>Previous:<\/em><\/strong><\/p>\n<p>On Thursday the 6<sup>th<\/sup>\u00a0of September, trading on the EURUSD pair closed down. The pair spent most of the day hovering around 1.1630. The single currency then came under pressure during the US session and the rate dropped to 1.1606. Investors retreated from risky assets following the publication of an article in the Wall Street Journal suggesting that Japan could be the next target in Donald Trump\u2019s trade wars.<\/p>\n<p>The price drop was moderate. After reaching the balance line, the pair started trading sideways.<\/p>\n<p><strong><em>US data:<\/em><\/strong><\/p>\n<ul class=\"list list_type_disc\">\n<li>Initial jobless claims (31 Aug): 203k (forecast: 214k, previous: 213k).<\/li>\n<li>Markit services PMI (Aug): 54.8 (forecast: 55.2, previous: 55.2).<\/li>\n<li>ISM non-manufacturing PMI (Aug): 58.5 (forecast: 56.8, previous: 55.7).<\/li>\n<li>Factory orders (Jul): -0.8% (forecast: -0.6%, previous reading revised from 0.7% to 0.6%).<\/li>\n<\/ul>\n<p><strong><em>Day\u2019s news (GMT+3):<\/em><\/strong><\/p>\n<ul class=\"list list_type_disc\">\n<li>09:00 Germany: industrial production (Jul), trade balance (Jul).<\/li>\n<li>09:45 France: industrial output (Jul), trade balance (Jul).<\/li>\n<li>10:00 Switzerland: foreign currency reserves (Jul).<\/li>\n<li>10:30 UK: Halifax house prices (Aug).<\/li>\n<li>11:30 UK: consumer inflation expectations.<\/li>\n<li>12:00 Eurozone: GDP (Q2).<\/li>\n<li>15:30 Canada: net change in employment (Aug), unemployment rate (Aug).<\/li>\n<li>15:30 US: nonfarm payrolls (Aug), unemployment rate (Aug), average hourly earnings (Aug), average weekly hours (Aug), labour force participation rate (Aug).<\/li>\n<li>17:00 Canada: Ivey PMI (Aug).<\/li>\n<li>20:00 US: Baker Hughes US oil rig count.<\/li>\n<\/ul>\n<p><img decoding=\"async\" src=\"https:\/\/alpari.com\/data\/media\/cms\/images\/07.09.18_EURUSD_H1_5b92246e78ef2.png\" alt=\"\" \/><\/p>\n<p align=\"center\">Fig 1. EURUSD hourly chart.<\/p><div id=\"inves-3035249683\" class=\"inves-in-content inves-entity-placement\"><hr style=\"border: 1px solid #ddd;\">\r\n<div id=\"inpost_ads_header\">\r\n<p style=\"font-size:10px; float:left; color:#666;\">Free Reports:<\/p><\/div>\r\n<div id=\"inpost_ads\"> \r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/1ApBOV\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2018\/06\/graph_techs_PD.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t     <a href=\"https:\/\/goo.gl\/1ApBOV\"><b><u>Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p><br><br>\r\n<br>\r\n<br>\r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/f3RrHX\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2019\/01\/cot_pie_80.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t    <a href=\"https:\/\/goo.gl\/f3RrHX\"><b><u>Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p><br><br>\r\n<\/div>\r\n<hr style=\"border: 1px solid #ddd;\">\r\n<br><\/div>\n<p><strong><em>Current situation:<\/em><\/strong><\/p>\n<p>In order for this week\u2019s trading to close at my projected level around 1.1580, the bears need to go on the attack today. For the time being, they\u2019re holding off ahead of today\u2019s NFP report in the US, which comes out at 15:30 (GMT+3).<\/p>\n<p>If the NFP report disappoints market participants today, there\u2019s a risk of returning to 1.1720 over the following 3 hours. I don\u2019t make market predictions on payrolls day. If the actual figures significantly diverge from projections, we can expect volatility within a 100 \u2013 150 pip range.<\/p>\n<p>There aren\u2019t any important news releases from Europe expected. The market often consolidates within a narrow range ahead of the NFP report. Don\u2019t be surprised if the pair continues to trade at around 1.1635 up until 15:30 (GMT+3).<\/p>\n<p>Markets are jittery over the possibility of even more tariffs being imposed on Chinese imports to the US, so pressure on the euro will remain even if it moves upwards at 15:30.<\/p>\n<div class=\"s_invisible_yes\">Source: &#8220;<a href=\"https:\/\/alpari.com\/en\/hidden_copyright\/\" rel=\"nofollow\">EURUSD: all eyes on NFP<\/a>&#8220;<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>By Gabriel Ojimadu, Alpari Previous: On Thursday the 6th\u00a0of September, trading on the EURUSD pair closed down. The pair spent most of the day hovering around 1.1630. The single currency then came under pressure during the US session and the rate dropped to 1.1606. Investors retreated from risky assets following the publication of an article [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-133332","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/133332","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=133332"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/133332\/revisions"}],"predecessor-version":[{"id":133333,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/133332\/revisions\/133333"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=133332"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=133332"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=133332"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}