'Calm Before The NFP Storm'
TFI Markets | Oct 22, 2013 04:44AM ET
The currency market is bound in very tight range for another session today as the traders wait for the delayed US jobs report before placing their trades. It is very important for the US economy at the moment to show enough labor market progress something that will boost confidence after the shutdown ‘drama’ and will open the door once more for tapering to kick in play again. However, a disappointing number might lead EURUSD through the stops just above 1.3700 and thus send the pair way higher than now. Analysts expect around 180k, a slightly improved reading from last month.
Trade Idea
Watch out for the jobs report as explained above. It will be a significant determinant for the pair’s medium term direction. 1.3700 is of course the area of significant resistance.
Disclaimer • Risk Warning
This document should not be relied upon as being an impartial or objective assessment of the subject matter and is not deemed to be “investment research” as defined by the applicable law. This document has been issued by TFI FX only for information purposes and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action.
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.