{"id":11798,"date":"2010-08-06T08:25:44","date_gmt":"2010-08-06T12:25:44","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=11798"},"modified":"2010-08-06T08:25:44","modified_gmt":"2010-08-06T12:25:44","slug":"forex-news-non-farm-employment-change","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/08\/06\/forex-news-non-farm-employment-change\/","title":{"rendered":"Forex News: Non-Farm Employment Change"},"content":{"rendered":"<p><strong>By Russell Glaser <\/strong>&#8211; Yesterday\u2019s weaker than expected unemployment data from the U.S. may  have been a prelude to today\u2019s key non-farm employment change. Traders  will be watching both the overall estimate for job losses at -63k, but  also private job additions which are forecasted to come in at +100k.<\/p>\n<p>Key Data Releases:<\/p>\n<p>GBP \u2013 08:30GMT \u2013 PPI Input m\/m<br \/>\nExpectations: -0.4%. Previous -0.2%.<\/p>\n<p>Inflation concerns are growing in the UK as the Bank of England (BOE)  has kept interest rates at an all time low of 0.5%. Yesterday the BOE  reaffirmed it\u2019s commitment to low interest rates by holding the rate  steady while maintaining its balance of bonds on account.<\/p>\n<p>Currently the Cable is testing the 61.8% Fib retracement from last  August\u2019s high. The GBP\/USD has failed to break this level twice this  week. A breach above this price should take the pair to the resistance  level at 1.6070.<\/p>\n<p>USD \u2013 12:30GMT \u2013 Non-farm employment change<br \/>\nExpectations: -63k. Previous -125k.<\/p>\n<p>All eyes will be on the non-farms report from the Bureau of Labor  Statistics. As mentioned above, traders will also be following the  private job additions. If the U.S. economy adds more than 100k new jobs,  the greenback should strengthen against the majors. Given the month  long trend of negative U.S. economic data, along with a rebound of the  euro, this scenario seems unlikely. Resistance levels for the EUR\/USD  come in at 1.3270 and 1.3350.<\/p>\n<p><em><strong>Forex <\/strong><strong>Market Analysis provided by<span style=\"text-decoration: underline;\"> <a href=\"http:\/\/www.forexyard.com\/?zone_id=1398\" target=\"_blank\">ForexYard.<\/a><\/span><\/strong><\/em><\/p>\n<p>\u00a9 2006 by FxYard Ltd<\/p>\n<p>Disclaimer: Trading Foreign Exchange carries a high level of risk and                                          may not be suitable for all        investors.       There    is  a              possibility      that            you   could       sustain a  loss   of  all   of    your                investment and            therefore  you        should   not      invest        money  that   you            cannot afford to           lose. You         should    be      aware of     all       the    risks         associated     with     Foreign       Exchange        trading.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Russell Glaser &#8211; Yesterday\u2019s weaker than expected unemployment data from the U.S. may have been a prelude to today\u2019s key non-farm employment change. Traders will be watching both the overall estimate for job losses at -63k, but also private job additions which are forecasted to come in at +100k. Key Data Releases: GBP \u2013 &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/08\/06\/forex-news-non-farm-employment-change\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Forex News: Non-Farm Employment Change&#8221;<\/span><\/a><\/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-11798","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/11798","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=11798"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/11798\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=11798"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=11798"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=11798"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}