US Unemployment Rate and “NonFarm Payrolls” report

EUR/USD Key event – US Unemployment Rate and “NonFarm Payrolls” report (May 6th, 15:30 GMT +3)

This Friday two of the most anticipated economic reports will be published – US Unemployment rate and NonFarm Payrolls report. These are the most important news from the labor market and they have a massive impact on rate movements. Unemployment rate is more significant compared to the Non-Farm report and market participants consider it first.

A block of economic statistics to be published on the 6th of May (15:30 GMT +3):

Unemployment rate has increased from 4.9% to 5.0%, but still it is significantly lower than the optimal value = 6.0% and the representatives of Federal Open Market Committee mentioned that they are very satisfied with current situation in US labor market.

A block of economic statistics published on the 1st of April (15:30 GMT +3):

Unfortunately, the latest US economic data is quite poor and it has a negative impact on US dollar. Last week preliminary US GDP data (Quarter-over-Quarter) was published and it was less that expected:

CB Consumer Confidence level decreased as well:

What is more, Core Durable Goods Orders data was much worse than the forecast:

These two reports have a massive impact on CPI and if the growth of US inflation starts to slow down it will be a big concern for US Federal Reserve representatives.

EURUSD chart:

EUR gained somewhat like 200 points against USD last week. On EURUSD H4 it is seen that the upward trend is getting stronger and indicator of technical analysis “Awesome Oscillator” points to that as well.

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