The NFP Report- It’s that special day of the month again! The day NFP figures will be announced – Today, Friday, June 4th at 12.30 GMT.
The ADP report showed an addition of 978K jobs in May and entirely exceeded the expectations of 680K estimates. It was the largest gain since June 2020 as the economy was emerging from the early pandemic lockdowns. With people vaccinating and slow decline in COVID-19 cases, almost half of the jobs’ numbers were gained in leisure and hospitality sectors.
Regarding the NFP figures, analysts expect employers to have added 664K jobs in May, which is a significant acceleration from April’s number 266K. The unemployment rate is expected to have dipped by 0.2% from April to settle at 5.9%.
The NFP Report-Image
EUR/USD Intraday: under pressure.
Pivot:
1.2140
Our preference:
Short positions below 1.2140 with targets at 1.2090 & 1.2070 in extension.
Alternative scenario:
Above 1.2140 look for further upside with 1.2160 & 1.2180 as targets.
Comment:
The RSI is mixed to bearish.
Gold Intraday: key resistance at 1878.00.
Pivot:
1878.00
Our preference:
Short positions below 1878.00 with targets at 1855.00 & 1845.00 in extension.
Alternative scenario:
Above 1878.00 look for further upside with 1889.00 & 1899.00 as targets.
Comment:
As long as the resistance at 1878.00 is not surpassed, the risk of the break below 1855.00 remains high.
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Tags : NFP report
