Will NFP keep its run of good form?
City Index March 6, 2015 2:30 PM
<p>The Euro had a brief break below 1.10 level yesterday after the ECB announced its plans to start printing money on Monday. After some initial […]</p>
The Euro had a brief break below 1.10 level yesterday after the ECB announced its plans to start printing money on Monday. After some initial stops taken out down to 1.0988 it bounced back around 40 points showing that there are some buys down at these levels.
The main event today is of course the non-farm payrolls. A good run of data has meant that the last three reads and revisions have been better than expected. Much more of the same is thought to happen today, with the figure estimated to be at 240k, a slight drop from the previous 257k.
Unemployment rate is also set to drop from 5.7% to 5.6%. Another important piece to the rate rise questions is the average earnings data which is set to fall from 0.5% to an expected 0.2%. Will any of the data help change the minds of the FED’s ‘patient’ wording in the next FOMC meeting?
Supports 1.0970-1.0915-1.0845 | Resistance 1.1100-1.1170-1.1230
Supports 119.70-119.25-118.90 | Resistance 120.50-120.90-121.35
Supports 1.5200-1.5180-1.5150 | Resistance 1.5265-1.5300-1.5320
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