NFP Friday today! Is the USD going to get some support at last?

The US Employment report is due out today at 13:30 (GMT). Non-Farm Payrolls are expected to be at 180k vs previous reading of 146k, unemployment rate to remain unchanged at 4.1% and average earnings to tick up to +2.6% yoy vs. previous 2.5%. Again, please pay attention to all three elements of the employment report as the market may react to any of the three, especially average earnings, despite the undisputed fact that Non-Farm Payrolls remain the star. Should the actual data meet the forecast, the USD should strengthen, as the forecasted data are rather favourable for the USD. However, given the last few day’s USD weakness, the reaction may be muted somewhat. Also note that, despite US finance minister Mnuchin, stating that the Davos comment about a weak dollar, did not aim at the USD exchange rates, the low US Dollar may prove to be accommodating for the US economy currently.

The EUR/USD moved in a sideways manner yesterday with some buying pressures, just breaking the 1.2495 resistance level. We expect the pair to continue to trade in sideways manner, however we see the case for the pair to experience bearish pressures, as the greenback may strengthen due to today’s employment report. Should the pair come under buying interest, we could see it reaching or even breaking the 1.2600 resistance level. On the other hand should it come under selling interest we expect it to break the 1.2495 support level and maybe even breaching the 1.2355 support level.

Be ready for tomorrow’s NFP day!

Tomorrow, on Friday, February 2, we enter the Non-Farm Payroll day. This is the first time this year, and presents a new first set of key data for Federal Open Market Committee (FOMC). This event is very important for both small and large investors, so this post is desirable to read.

According to forecasts, we can expect that numbers for earning for the Non-Farm Payroll will rise by 180,000.

Next Non-Farm Payroll day is on 9th March 2018!

PS: NFP serves to measure the number of employees (*in this measurement the farming industry is excluded), and its generally issued for the previous month.

Monthly results (Trade copier system) – results for January 2018

Good start of 2018 shows that we worked hard and tried to repeat great results from last year. So, there is no omission, we are going to new victories!

Here you can see results for January month by package:

  • Standard package made 452 pips net profit
  • Professional package made 1084 pips net profit
  • Ultimate package made 2921 pips net profit
  • Pearl package made 12816 pips net profit