The recent FOMC’s decision of raising an interest rate by 75 bps leading to 4.00% range from 3.25% led slight selling pressure in indices. However, an effect was short-lived since the same has been factored in earlier. On positive side, improving economic conditions at global level & chances of easing down of Covid-19 restrictions makes the US Dollar Index weaker & other currencies & commodities stronger. The not-so aggressive stance by other major Central Banks led buying in major indices. The market will be monitoring an outcome of U.S Non-farm payroll which to be issued on November 04, 6.00pm IST, Friday & will show a change in the number of employed people during the previous month, i.e. October, excluding the farming industry.
The report expects a drop-down in employment figure by 197K lower than previous reading of 263K & Unemployment Rate can be increased to 3.6% from 3.5%.
Above graph shows mild progress in employment sector in last three months & the recent forecast may drag down the curve.
The estimates of U.S ADP Employment Change rose to 239K whereas the Unemployment Claims climbed to 217K. These mixed data may create ambiguity towards today’s Non-farm Payroll figures.
If NFP data comes out to be stronger, then the possible effect can be – strong US Dollar Index, soft precious metals & stronger global indices. Other way round, if data shows downbeat results, then downside in indices & buying bias in Gold can be noticed.
XFlow Markets is one of the leading brokerage firm in the trading industry with vast number of clientele followers. We are ranked as the top most firm with 9 years of experience along with top-notch trading services. We widely trade in Forex, Indices, and Commodities.
Nonfarm payroll (NFP) is a report released by the U.S. Bureau of Labor Statistics (BLS) on the first Friday of every month, which provides data on the total number of Continue reading
Forex trading, also known as FX Trading or Currency trading, refers to buying and selling international currency pairs. The primary goal of forex trading is to exchange one currency with Continue reading
XFlow Markets provides an entirely transparent access to the FOREX Market through two powerful trading platforms (XFLOW & MT4) with excellent execution speed, a 24/5 client support system with no dealing desk involvement.
© 2023 XFlow Markets, All rights reserved.
Risk Warning: Leveraged trading in foreign currency contracts or other off-exchange products on margin carries a high level of risk and may not be suitable for everyone. We advise you to carefully consider whether trading is appropriate for you in light of your personal circumstances.
You may lose more than you invest. Information on this website is general in nature. We recommend that you seek independent financial advice and ensure you fully understand the risks involved before trading. Trading through an online platform carries additional risks.
XFlow Markets does not offer Contracts for Difference to residents of certain jurisdictions including the Belgium, Iran, Canada, North Korea, the USA, Cuba, Syria and FATF Black Listed Countries.
Telephone number: UK: +44-2038355241 Working hours: 7:00 AM - 5:00 PM (GMT+0)
XFlow Markets does not offer any fixed returns & guaranteed profits. Forex and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Your capital is at risk. Please consider our Risk Disclosure.
XFlow Markets does not guarantee any returns or profits. Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.