{"id":21475,"date":"2011-06-03T03:20:34","date_gmt":"2011-06-03T07:20:34","guid":{"rendered":"http:\/\/www.forexyard.com\/blog\/en\/?p=14524"},"modified":"2011-06-03T03:20:34","modified_gmt":"2011-06-03T07:20:34","slug":"non-farm-payrolls-highlights-turbulent-week","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/06\/03\/non-farm-payrolls-highlights-turbulent-week\/","title":{"rendered":"Non-Farm Payrolls Highlights Turbulent Week"},"content":{"rendered":"<p><img decoding=\"async\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/profile-pics\/9.jpg\" width=\"120\"  alt=\"printprofile\" \/><\/p>\n<p>Stemming from the stream of <a href=\"http:\/\/www.forexyard.com\/blog\/en\/2011\/06\/01\/deteriorating-us-economic-data\/\">negative US economic data<\/a> this week economists have scaled back their forecasts\u2019 for today\u2019s non-farm employment change. Market sentiment has once again shifted against the dollar buta surprisingly positive jobs report may catch many USD shorts off guard.<\/p>\n<p><span id=\"more-14524\"><\/span>Today\u2019s Economic Data Releases<\/p>\n<p>GBP \u2013 Services PMI \u2013 08:00 GMT<br \/>\nExpectations:  54.4.  Previous:  54.3<br \/>\nSterling surged yesterday after better than expected construction PMI numbers but the gains were scaled back later in the New York trading session. While today\u2019s services data may have a short term impact on the pound, the kicker will be this afternoon\u2019s jobs report. Cable has support at 1.6300 and break here could spur declines to the trend line off of the May 2010 low at 1.6140. Resistance is found at the 1.6515-50 resistance zone.  <\/p>\n<p>USD \u2013 Non-Farm Employment Change \u2013 12:30 GMT<br \/>\nExpectations:  194K.  Previous:  244K.<br \/>\nWhile consensus estimates are for roughly 194K new jobs to have been added to the US economy in the month of May, economists have largely adjusted their forecasts lower following Wednesday\u2019s disappointing ADP jobs report. Market sentiment has once again shifted against the dollar and a surprisingly positive jobs report may catch many USD shorts off guard. Therefore, a pullback in the EUR\/USD would not be too farfetched. For the EUR\/USD, a move above 1.4570 would set the stage for gains to the May high but a retreat below 1.4350 would shift momentum to the downside.  <\/p>\n<p>Read more forex trading news on our <a href=\"http:\/\/www.forexyard.com\/blog\/en\/\">forex blog<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p> Stemming from the stream of negative US economic data this week economists have scaled back their forecasts\u2019 for today\u2019s non-farm employment change. Market sentiment has once again shifted against the dollar buta surprisingly positive jobs report &#8230;<\/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-21475","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/21475","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=21475"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/21475\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=21475"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=21475"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=21475"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}