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.

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
Mixed
Oil - US Crude
Bullish
Wall Street
Bearish
Gold
Bullish
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • Wall Street Futures Update: Dow Jones (-0.003%) S&P 500 (+0.073%) Nasdaq 100 (+0.021%) [delayed] -BBG
  • (Sentiment Weekly) Japanese Yen, Swiss Franc Analysis: USD/JPY, USD/CHF May Fall as Long Bets Rise #Yen #Franc $USDJPY $USDCHF https://www.dailyfx.com/forex/technical/article/special_report/2021/04/14/Japanese-Yen-Swiss-Franc-Analysis-USDJPY-USDCHF-May-Fall-as-Long-Bets-Rise.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/6EXLAB614y
  • Retail traders appear to be reducing long exposure in the Euro after recent gains. This hints that EUR/USD and EUR/JPY may rise in the near term, but could this trend last down the road? Find out from @ddubrovskyFX here:https://t.co/Y1d4DXeKEE https://t.co/JmGCbxkfWp
  • Gold Prices Probe Barrier as Inflation Data Sinks the USD and Yields https://www.dailyfx.com/forex/market_alert/2021/04/14/Gold-Prices-Probe-Barrier-as-Inflation-Data-Sinks-the-USD-and-Yields-.html https://t.co/bdNaQQsMqu
  • The Indian Rupee rose as the Nifty 50 slightly fell after the RBI left benchmark rates unchanged despite recent weakening inflation and a massive fiscal spending plan. Will USD/INR bounce? Find out from @ddubrovskyFX here:https://t.co/SwufKMOwfQ https://t.co/R2XfXKiRT5
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.65%, while traders in France 40 are at opposite extremes with 80.44%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/gxv7FwyhsM
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.50% 🇦🇺AUD: 0.26% 🇬🇧GBP: 0.16% 🇨🇭CHF: 0.11% 🇪🇺EUR: 0.10% 🇨🇦CAD: -0.02% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/hQBjkAnaA1
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: France 40: 0.35% Germany 30: 0.04% US 500: 0.00% FTSE 100: -0.06% Wall Street: -0.08% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/VrybX61UEU
  • British Pound Price Outlook: GBP/USD, GBP/JPY Poised to Extend Climb - https://www.dailyfx.com/forex/technical/home/analysis/gbp-usd/2021/04/14/British-Pound-Price-Outlook-GBPUSD-GBPJPY-Poised-to-Extend-Climb.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Moss&utm_campaign=twr $GBP $GBPUSD $GBPJPY https://t.co/rDOIqMJQfk
  • The US Dollar may extend gains against the Thai Baht. But, its price action within USD/SGD, USD/PHP and USD/IDR seem to be favoring more range-bound trading conditions. Get your market update from @ddubrovskyFX here:https://t.co/DYCLXAFcCr https://t.co/q3hRzYvE7n
S&P 500 Futures Climb, EUR/USD Whipsaws as NFPs Surge 916K

S&P 500 Futures Climb, EUR/USD Whipsaws as NFPs Surge 916K

Rich Dvorak, Analyst

NONFARM PAYROLLS DATA SMASHES FORECAST, MARKET REACTION MUTED AMID LOW LIQUIDITY

  • US Nonfarm Payrolls for March showed 916K jobs added and unemployment steady at 6%
  • S&P 500 Index futures are reacting positively to the stronger-than-expected NFP report
  • EUR/USD price action is rather muted due to low liquidity caused by Good Friday holiday
Advertisement

For those of us still on the desk today during Good Friday holiday, the release of monthly nonfarm payrolls just crossed market wires. The NFP report for March came in much better-than-expected as the headline figure showed 916,000 job gains. This compares to the consensus forecast looking for an increase of 647,000 according to the DailyFX Economic Calendar. The US unemployment rate held steady at 6%, though average hourly earnings did tick lower from 5.2% to 4.2%. The NFP report noted that 280,000 jobs were added in the leisure and hospitality segment as pandemic-related restrictions ease and covid vaccines are administered. Labor force participation was little changed at 61.5%.

Trading Forex News: The Strategy
Trading Forex News: The Strategy
Recommended by Rich Dvorak
Trading Forex News: The Strategy
Get My Guide

S&P 500 INDEX FUTURES PRICE CHART WITH EUR/USD OVERLAID: 15-MINUTE TIME FRAME (02 APRIL 2021 INTRADAY)

S&P 500 Index Futures Price Chart EURUSD Reaction to March 2021 Nonfarm Payrolls Report

Chart by @RichDvorakFX created using TradingView

S&P 500 Index futures spiked higher in immediate reaction to the nonfarm payrolls data release. EUR/USD price action saw a bit of volatility as well, but it seems as though US Dollar strength will prevail as the major currency pair oscillates lower. It is worth noting that market reactions to the latest NFP report have been largely muted due to a lack of liquidity with most of the world on holiday for Good Friday. That said, the solid NFP report looks to underscore the relative outperformance of the American economy, which looks to be supportive of the S&P 500 and US Dollar over the weekend and into next week once liquidity returns.

US 500 Bullish
Data provided by
of clients are net long. of clients are net short.
Change in Longs Shorts OI
Daily -8% 3% -1%
Weekly -7% 9% 4%
What does it mean for price action?
Get My Guide

-- Written by Rich Dvorak, Analyst for DailyFX.com

Connect with @RichDvorakFX on Twitter for real-time market insight

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

DISCLOSURES