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Nonfarm payrolls on Friday, what's cooking

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Carlsquare
6 Oct 2022 | 1 min read
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To fight inflation, the Fed is doing its best to cool the labour market and the economic demand. Friday's (7 October) release of nonfarm payrolls for September in the US will show whether the central bank's efforts are answered or not

Initial jobless claims (1,000), 13 January-5 October 2022

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Source: Department of Labor and Carlsquare.

Falling interest rates have weakened the USD. As shown in the chart below, EUR/USD is trading close to resistance in the shape of a falling trendline. Does this provide an opportunity to sell EUR/USD?

EUR/USD, daily one-year price chart

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Source: Infront and Carlsquare. Note: Past performance is not a reliable indicator of future results.

EUR/USD, weekly five-year share price chart

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Source: Infront and Carlsquare. Note: Past performance is not a reliable indicator of future results.

The full name for abbreviations used in the previous text:
EMA 9: 9-day exponential moving average
Fibonacci: There are several Fibonacci lines used in technical analysis. Fibonacci numbers are a sequence of numbers in which each successive number is the sum of the two previous numbers.
MA20: 20-day moving average
MA50: 50-day moving average
MA100: 100-day moving average
MA200: 200-day moving average
MACD: Moving average convergence divergence

Risks

 
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Please read this information before continuing, as products and services contained on this website are not accessible to certain persons. Of importance are the respective prospectuses which are attainable from the issuer: Vontobel Financial Products GmbH, Bockenheimer Landstrasse 24, DE-60323 Frankfurt am Main, Germany, as well as from this website.