Nonfarm payrolls on Friday, what's cooking
To fight inflation, the Fed is doing its best to cool the labour market and the economic demand. Friday's (7 October) release of nonfarm payrolls for September in the US will show whether the central bank's efforts are answered or not
Initial jobless claims (1,000), 13 January-5 October 2022
Falling interest rates have weakened the USD. As shown in the chart below, EUR/USD is trading close to resistance in the shape of a falling trendline. Does this provide an opportunity to sell EUR/USD?
EUR/USD, daily one-year price chart
EUR/USD, weekly five-year share price chart
The full name for abbreviations used in the previous text:
EMA 9: 9-day exponential moving average
Fibonacci: There are several Fibonacci lines used in technical analysis. Fibonacci numbers are a sequence of numbers in which each successive number is the sum of the two previous numbers.
MA20: 20-day moving average
MA50: 50-day moving average
MA100: 100-day moving average
MA200: 200-day moving average
MACD: Moving average convergence divergence
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