Forex Signals Brief for Aug 31: US Jobs in Focus
Rowan Crosby • 2 min read
US Market Wrap
US markets were all about the Fed last week after Jerome Powell came out and adjusted the Fed’s inflation target.
The moves helped the SPX put in a record August and stocks continue to trade a record high level as well.
The Data Agenda
The main focus of the week ahead will be a combination of the US jobs situation and the continuing fallout from the Fed.
Being the start of the month, the latest non-farm payrolls are due for release on Friday which is expected to show 1.4 million jobs have been created. This is down on the prior of 1.76 million but does show the economy is slowly getting back on its feet. The jobless rate is also expected to fall slightly.
The more up to date measure will be the jobless claims on Thursday and this will be important as the number has been struggling to drop below the 1 million level.
Finally, the Fed is the other topic on the mind of traders. After last weeks update on inflation, there will be some more Fed speakers getting tolled out and we will need to watch for their commentary around interest rates and inflation. The Greenback could well be in for another wild ride in the next five days.
Forex Signal Update
The FX Leaders Team hit 13 winners from 16 trades for an 81% win rate last week, as the guys put in an outstanding performance.
Make sure you follow our live signals as the week ahead looks like it could be a big one as well.
USD – Watching
The US Dollar Index is right on the lows and a break through that 92.00 level is on the cards this week.
EUR/JPY – Pending Signal
The EUR/JPY has pulled back a bit but is importantly still on a steady uptrend. This might present an opportunity for a long position.
LTC is another one that is continuing to break out to the upside and worth watching in the coming days.