News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Bearish
Oil - US Crude
Bullish
Wall Street
Bearish
Gold
Bullish
GBP/USD
Bearish
USD/JPY
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • ECB's Villeroy says stimulus will be at least as prolonged as Fed's
  • This week opens to anticipation for Wednesday's FOMC decision, but conditions may charge short-term volatility. DailyFX Chief Strategist @JohnKicklighter discuss for Monday! https://t.co/iOgZWpiFE5
  • Commodities Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.92% Silver: 0.11% Gold: -0.56% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/lDnyXGE5LI
  • Heads Up:🇧🇷 Business Confidence (JUN) due at 14:30 GMT (15min) Previous: 58.5 https://www.dailyfx.com/economic-calendar#2021-06-14
  • Gold has rallied nearly 1.0 percent over the past half hour, retracing approximately two-thirds of the day's full bearish move that nearly return to the 200-day simple moving average at 1841
  • IG Client Sentiment Update: Our data shows the vast majority of traders in EUR/CHF are long at 75.94%, while traders in France 40 are at opposite extremes with 76.86%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/RoniFgxpjs
  • Commodities Update: As of 13:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.86% Silver: -0.03% Gold: -0.72% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/WLMrpTOeAe
  • Indices Update: As of 13:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.12% Germany 30: 0.09% France 40: 0.08% US 500: 0.03% Wall Street: -0.08% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/UN7jwfsNFt
  • The USD is holding onto 90.50 following Friday’s adjustment in positioning. The main event this week is the FOMC monetary policy meeting and while no policy changes are expected. Get your market update from @JMcQueenFX here:https://t.co/xEAM7MguYi https://t.co/IvE5hQBtek
  • Heads Up:🇧🇷 Business Confidence (JUN) due at 13:30 GMT (15min) Previous: 58.5 https://www.dailyfx.com/economic-calendar#2021-06-14
Trade Setups in EUR/USD, USD/JPY, USD-pairs for October NFPs

Trade Setups in EUR/USD, USD/JPY, USD-pairs for October NFPs

Christopher Vecchio, CFA, Senior Strategist

Talking Points:

- EUR/USD continuation eyes $1.0807, mid-July swing low.

- USD/JPY range breakout contingent on weekly close above ¥121.80.

- See the November forex seasonality report that forecasts US Dollar strength.

It's the second to last US labor market report before the Federal Reserve's December policy meeting, one which right now is seeing expectations ramped up for the first rate rate hike in nearly a decade. Yet some obstacles remains: will inflation pick back up towards the Fed's medium-term target of +2%?; and are recent disappointing labor market reports merely a blip on the radar or the beginning of something much worse?

We'll at least have a partial answer to the latter of the two questions, with the release of the October US Nonfarm Payrolls report today at 13:30 GMT. Current expectations are fairly strong, with the Unemployment Rate expected to fall to 5.0% from 5.1%, and the headline jobs figure to come in at +184K after September's disappointing +142K.

Ultimately, given recent commentary from Fed officials, the US Dollar may not need a blowout print here in order for rate expectations to remain firmly locked in on December for the first rate hike. A print close to the three-month run rate of +167K may be deemed sufficient enough to keep recent price action developments in several USD-pairs, especially EUR/USD and USD/JPY, going through mid-November.

See the above video for technical considerations in EUR/USD, USD/JPY, GBP/USD, AUD/USD, and the USDOLLAR Index.

Read more: GBP/USD Slides as BoE Cuts Forecasts, Keeps ZIRP Policies in Place

--- Written by Christopher Vecchio, Currency Strategist

To contact Christopher Vecchio, e-mail cvecchio@dailyfx.com

Follow him on Twitter at @CVecchioFX

To be added to Christopher's e-mail distribution list, please fill out this form

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES