{"id":10845,"date":"2021-03-05T08:22:41","date_gmt":"2021-03-05T08:22:41","guid":{"rendered":"https:\/\/errante.net\/?p=10845"},"modified":"2021-03-05T08:22:41","modified_gmt":"2021-03-05T08:22:41","slug":"nfp-friday-5th-march-2021","status":"publish","type":"post","link":"https:\/\/errante.net\/it\/nfp-friday-5th-march-2021\/","title":{"rendered":"NFP Friday: 5th March 2021"},"content":{"rendered":"\n
The last NFP data came in slightly below the consensus (49K Actual vs 50K Consensus), marking a 1K miss. As the data was quite close last time, markets were relatively un-impacted, with USD selling slightly inflated. <\/p>\n\n\n\n
Keeping an eye on this data is important for all USD traders, as it will likely impact USD direction. <\/p>\n\n\n\n
This week\u2019s manufacturing and services PMI numbers were better than expected. This, in combination with the NFP consensus of 182K new jobs and average hourly earnings expected to rise 0.2% m\/m again this month may push the dollar to rise. <\/p>\n\n\n\n
If we see a stronger-than-anticipated NFP reading, traders may look to the EUR\/USD as a possible sell candidate. The world\u2019s most widely-traded currency pair is approaching the bottom of the 1.1950-1.2225 range that has contained rates for the past seven weeks, and a break below that area could open the door for a deeper retracement towards 1.1800 as we move through the month of March. <\/p>\n\n\n\n
On the other hand, GBP\/USD is poised to benefit from a potentially soft US jobs report. The pair is riding its 21-day EMA higher and has shown signs of forming a base this week after pulling back from last week\u2019s multi-year highs. A weak jobs report could be just the bullish catalyst that cable needs to resume its established uptrend. <\/p>\n\n\n\n
February’s Nonfarm Payrolls\u00a0will be released\u00a0at 15.30 GMT+2.<\/strong>\u00a0<\/p>\n\n\n\n If you have any questions, please email our Education Centre<\/a>.<\/p>\n\n\n\n If you have any questions or require any assistance, please contact one of our support team members via our Live Chat or email support@errante.net<\/a>.<\/p>\n\n\n\n We are Errante. Trading made personal<\/strong>.<\/p>\n\n\n\n Errante is regulated by the Seychelles Financial Services Authority (FSA) under license number [SD038<\/a>].<\/p>\n\n\n\n