Will The NFP Push The Dollar Higher Today?

Google+ Pinterest LinkedIn Tumblr +

1. Will The NFP Push The Dollar Higher Today?
Today’s nonfarm payrolls report will be closely watched by investors who will be looking for clues as to whether the Federal Reserve will proceed with a rate hike expected later this month. With the market pricing in 96.3% chance of a hike, the U.S. economy would have to report major job losses for the central bank to pass on tightening this month. The most crucial question to ask however, is whether the Fed will provide a dovish or hawkish hike. If the jobs report is strong with average hourly earnings rising by 0.3% or more, investors will expect the central bank to be optimistic, leaving the door open to another hike in December. In this scenario, the USD/JPY is expected see some strong support while the EUR/USD may sink below its key 1.16 support level.*

2. Twitter Down 6% After Capitol Hill Testimony
Twitter (TWTR) shares closed 5.87% lower in the last U.S session while Facebook (FB) finished the session -2.8% lower just a day after both companies sent executives to testify on Capitol Hill about election interference and other issues of security pertaining to these platforms. It is important to note that the exchanges between legislators and tech executives were more amiable than what one would expect, but the legal face-off still caused the social-media conglomerates to bleed.**

3. Gold Edges Higher As Dollar Slips On Trade Jitters
Gold extended gains on Friday as the dollar fell against the yen after a report suggested that U.S. President Donald Trump would next take up trade issues with Japan. Specifically spot gold was up 0.15 percent to last trade at $1,206.4 as of 7:00 GMT, after it hit a near one-week high on Thursday at $1,206.98. The noble metal is currently heading for a third straight session of gains.***

You can find and trade all of the above mentioned equities and commodities on BDSwiss Forex/CFD platforms.

*Source: Investing Sep 06, 2018 03:51 PM ET
**Source: Marketwatch Sept 6, 2018 1:38 p.m. ET
***Source: Reuters Sept 7, 2018 / 4:51 AM

START TRADING NOW

Your capital is at risk. T&Cs apply

Share.
Risk Warning: Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. General Risk Disclosure