NFP and EUR/USD : What are the challenges of the report NFP today? What is the impact on the Euro Dollar?




The Euro Dollar is losing some pips since the beginning of the European session, reaching the support of 1.1645, in a market rather quiet, pending the report of the NFP which will be released this afternoon at 13: 30.

In fact, the evolution of the pair EUR/USD will mostly depend on this publication today, as this report NFP will be monitored perhaps even more than usual after the amazing numbers the previous month.

It should be remembered that the ratio NPA of September had been largely unaffected by the hurricane, which had given rise to 33k jobs, a figure that is disastrous, which was offset in part by a surprising increase in average hourly wages (+0.5%), a figure that could also be explained by the hurricanes.

We can therefore expect a catch-up phenomenon for these two statistics, that is to say, a sharp rise in job creation, and a return to a slower growth of average hourly wages, and it is the balance between these two components of the report NFP which should hold the fate of the Euro Dollar between his hands.

From a graphical point of view, we can identify short-term supports at 1.1645, 1.1625, 1.1600-10 and 1.1575. Has the upside, the first resistances lie at 1.1670, 1.1690-1.17 and 1.1730.

Currently, the EUR/USD pair hovers around 1.1650 on Forex.
Chart EUR/USD H1
See also our charts EUR/USD in real time.

This chart has been realized with the trading platform TradingStation 2 provided by FXCM France.



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