All Eyes On Non-Farm Payrolls Data Release
FX Solutions | Oct 22, 2013 06:25AM ET
Only one thing on everyone’s agenda today: the Non-Farm Payrolls finally to be released since the US government shutdown at the start of the month. The data is expected to come in at a stronger level. Median forecasts are that employers added 180k payrolls last month, so a strong figure should give the USD a more positive tone as it has been struggling to gain any ground with the on-going problems with the US government shut down and debt ceiling issues this month. This could also bring back the taper question, but as we have heard from some hawkish Fed members nothing is likely this month. If the numbers come in weaker, we could see the continuing rally of risk trades, notably the GBP and EUR. But bear in mind the data was delayed and this could raise questions on how accurate the data is until next month’s release where a revised figure will be sought.
EUR/USD
Supports 1.3650 1.3515 1.3472 | Resistance 1.3690 1.3705 1.3730
USD/JPY
Supports 98.10 97.60 97.50 | Resistance 98.40 99.00 99.70
GBP/USD
Supports 1.6115 1.5940 1.5890 | Resistance 1.6150 1.6180 1.6230
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