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Easter NFP Friday

Easter NFP Friday

EUR/USD struggles as it fails to extend the series of higher highs and lows from the start of the week, and the US Non-Farm Payrolls (NFP) report may drag on the exchange rate as the update is anticipated to show another rise in employment.

The US official employment report will be released on Friday, with markets closed around the world for Easter. Nonfarm Payrolls are seen rising by 240,000 in March. Trading volume will likely be light, with volatility spikes around the release of the NFP.  Before and afterwards, not much action is expected. 

A weaker-than-expected NFP may prop up EUR/USD as it fuels speculation for a change in the monetary regime, and it remains to be seen if the FOMC will continue to alter the forward guidance at the next interest rate decision on May 3 amid signs of a slowing economy.

With that said, the update to the NFP report may sway the near-term outlook for EUR/USD as the Fed seems to be nearing the end of its hiking-cycle, but the failed attempt to test the yearly high (1.1033) may lead to a near-term pullback in the exchange rate if it fails to hold above the monthly low (1.0788).

Friday 7th April 

  • 15.30 GMT+3 – US – Average Hourly Earnings m/m, Non-Farm Employment Change, Unemployment Rate 

Potential instruments to Trade: USD Crosses.  

Team Errante wishes you a very Happy Easter!

If you have any questions or require any assistance, please contact one of our support team members via our Live Chat or email [email protected].

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 33.33% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.Read our Risk Disclosure.

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