Nfp forex forecast eur

The pair is seeing some upside traction this Monday, which is more of USD bulls taking a breather rather than inherent Euro strength. The consensus by economists is that the CPI has declined monthly from 0. An upside surprise gives the European Central Bank some room to raise interest rates when it meets later this month; a EUR-positive scenario. However, the impact is not expected to last, as the US Consumer Confidence data and a series of employment data are due for release this week.

The markets expect a dip in the number of job additions, a cooling of wage inflation and a static unemployment rate. This move completed the rising wedge pattern on the daily chart and now provides for a possible retracement rally. Surprises and major changes in the released numbers can lead to significant price movements.

The hourly wages are the final piece of that puzzle because they show the purchasing power of those jobs. This is a very basic view and we will now get into the more practical part. This is especially true when the released data surprises the traders. Volatility and trading before the NFP The NFP is a widely watched news report and you can almost always see that volatility is drying up when investors are waiting for the release.

Thus, price often just ranges sideways on the Friday before the NFP without any sense of direction. The NFP came in much worse than expected and this is usually the report most people pay attention to. The screenshot below shows such an example: NFP was better than expected, but worse than the month before. To watch the NFP data release, you can go to the Forexfactory news calendar and get the numbers very quickly.

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