Don’t waste your time – keep track of how NFP affects the US dollar!

Data Collection Notice

We maintain a record of your data to run this website. By clicking the button, you agree to our Privacy Policy.

facebook logo with graphic

Join Us on Facebook

Stay on top of company updates, trading news, and so much more!

Thanks, I already follow your page!
forex book graphic

Beginner Forex Book

Your ultimate guide through the world of trading.

Get Forex Book

Check Your Inbox!

In our email, you will find the Forex 101 book. Just tap the button to get it!

FBS Mobile Personal Area

market's logo FREE - On the App Store

Get

Risk warning: ᏟᖴᎠs are complex instruments and come with a high risk of losing money rapidly due to leverage.

76.5% of retail investor accounts lose money when trading ᏟᖴᎠs with this provider.

You should consider whether you understand how ᏟᖴᎠs work and whether you can afford to take the high risk of losing your money.

EUR/USD : targets higher before critical NFP number

EUR/USD : targets higher before critical NFP number

Information is not investment advice

2021_05_31_15_26_42_sos_PowerPoint.png

EURUSDM30.png

2021_05_31_15_29_04_sos_PowerPoint.png

USDJPYM30.png

Fibonacci Levels

 XAU/USD: Gold facing a further consolidation above 23.6% retracement area. Bulls have returned before NFP.

XAUUSDH4.png

Ichimoku Kinko Hyo

CHF/JPY: The pair is trading below the cloud. A downward pressure would lead the pair to exit further the cloud, confirming a bearish outlook.

CHFJPYM30.png

US Market View

World equities are set to post a fourth consecutive month of gains on Monday, while the dollar remains under pressure ahead of a slew of European and U.S. data that will confirm whether the global economy is on a steady recovery path. The main event of the week will be U.S. payrolls on Friday with median forecasts at 650,000 but the outcome is uncertain following April's shockingly weak 266,000 gain. Although U.S. inflation data last week was above estimating, another big miss on the jobs front would heap pressure on the Fed to postpone plans to wind down on stimulus.

The dollar came under pressure on Monday, heading for its second consecutive monthly loss against the euro and the pound, as traders assessed the impact of a surge in U.S. inflation before monthly jobs data later this week.

Gold is heading for its biggest monthly gain since July as inflation remains the key focus, while Bitcoin at the same time is heading for its worst month since 2011. Prepare for another busy week for the bond market as US jobs data are released on Friday (TLT, IEF). If jobs numbers disappoint once again, the market would have some serious doubts about the state of the recovery. 

Australia RBA meeting tonight. Little is expected from this meeting as the RBA has set up the July meeting as the key decision point for whether to re-extend the horizon of its yield-curve-control policy.

Oil prices firmed on Monday, with Brent trading near $70 a barrel, underpinned by the bright outlook for fuel demand growth in the next quarter, while investors looked ahead to the OPEC+ meeting this week to see how producers will respond. All eyes will be on OPEC this week as it reviews its supply agreement, and any hint of an increase in output could pressure prices.

The euro zone is to release what will be closely watched flash inflation figures on Tuesday. Inflation in the bloc is fast approaching the ECB’s 2% target, but like their counterparts in the U.S. central bank officials are arguing that this is likely temporary. Last week ECB Chief Economist Philip Lane said there was “nearly zero connection between any spikes in prices on the reopening of the world economy and what goes into the inflation trend”.

 

USA Key Point

  • Germany May preliminary CPI +2.5% vs +2.3% y/y expecte
  • Oil stays perky ahead of OPEC+ meeting tomorr
  • Bavaria May CPI +2.6% vs +2.0% y/y prior.
  • Spain May preliminary CPI +2.7% vs +2.4% y/y expected.
  • China reportedly holds meeting on measures to cope with ageing population, optimising birth polic
  • France's Le Maire: Convinced that economy will grow 5% this ye
  • Japan May consumer confidence index 34.1 vs 33.0 expecte
  • Heads up: Germany states' CPI readings due later toda

Similar

Popular

It’s Time to Look at New Zealand

Inflation in New Zealand is the highest since 1990, edging to 7.3% in Q2 2022. The currency is under heavy pressure as the Reserve Bank of New Zealand is trying to reverse the inflationary spiral. The week ahead will give us a valuable clue about the country’s monetary policy, and we are here to talk about that.

Choose your payment system

Feel the Team Spirit

Callback

Please fill in the form below so we can contact you

Select the best time for us to call you. We give calls from Monday to Friday in suggested intervals. In case we couldn't get through, we will try again at the same time the next day. For getting real-time assistance, use FBS chat.

We provide only English-speaking callbacks. If you prefer any other languages, contact the support team.

We will call you at the time interval that you chose

Change number

Your request is accepted.

We will call you at the time interval that you chose

Next callback request for this phone number will be available in 00:30:00

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later