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Video: Can NFPs Report Finally Force a Dollar Breakout and Revive Trend?

Video: Can NFPs Report Finally Force a Dollar Breakout and Revive Trend?

John Kicklighter,

Talking Points:

NFPs is a frequent spark for volatility, but wage growth is at the crux of Fed rate speculation

• A 10-month wedge on USDollar will be difficult to break, but tight congestion on USDJPY will be easier to clear

• The forecast for September NFPs is 201,000 jobs added with the unemployment rate holding at 5.1 percent

Want to develop a more in-depth knowledge on the market and strategies? Check out the DailyFX Trading Guides we have produced on a range of topics.

There are two all-consuming fundamental themes that can alter the course and activity level of the entire market: monetary policy and investor sentiment. The US labor report can hit on both. There is little doubt that September's US employment report holds considerable potential over the economic and financial view of the US, but triggering volatility and leveraging trend require vastly different outcomes from the data. From an initial flush of activity amongst speculators, a miss or beat by the NFPs is enough. However, an improvement in employment over the past five years will make the market particularly resilient to even significant surprise on this front. To further rate speculation that revives Dollar trend or spills over to investor confidence through the financial system, the change needs to register on key underlying factors. We discuss why this data is important, what to watch and what markets can move in today's Strategy Video.

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