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Forex Focus on NFP
Forex Focus on NFP

Forex Focus on NFP

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Nikolas Papas Forex Analyst

In European trading session we have the French budget balance at 6:45, while German Construction PMI is due at 07:30GMT.

In the American forex calendar, the Nonfarm Payrolls and Private Nonfarm Payrolls is the main event of the day and will be out at 12:30GMT, along with the Unemployment Rate, Trade Balance and Average Hourly Earnings m/m. In Canada Trade Balance is due at 12:30 while Ivey PMI will be released at 14:00.

Oil traders await the Baker Hughes US Oil Rig Count due at 17:00GMT

In our central bank calendar, the European Central Bank Vice President De Guindos speaks at 11:25GMT, and later on the day we have the speeches by the Fed Chair Powell and policymaker Brainard.

Australia Retail Sales s.a. (MoM) came in at 0.4% below forecasts of 0.5% in August.

Asian indices are trading mixed today; Nikkei is 0.21% higher at 21,383. EURUSD trades 0.09% higher at 1.0974; the USDJPY is 0.10% lower at 106.80 while the AUDUSD is 0.20% higher at 0.6755.

Trade tensions between EU and US after new tariffs and political turbulence in Capitol Hill will continue to have a significant impact on forex markets. Brexit headlines will be the main force that drives GBP.