US Unemployment Change (+Nonfarm Payrolls)

EURUSD. US Unemployment Change + Nonfarm Payrolls (5 August 12:30 GMT)

Despite the excellent economic data coming from the United States, the latest FOMC meeting settled on keeping the refinancing rate unchanged. Some of the key conditions calling for a rate hike are optimistic data coming from the job market, as well as decent levels of inflation and GDP growth.

What is more, Consumer Confidence level remains on a decent level:

..and “New Home Sales” numbers were much better that the forecast:

As usual, the first Friday of the month is the day for the publication of the most anticipated piece of economic data – the Nonfarm Payrolls.

If this time the results turn out to be disappointing, it will have a negative effect on the US dollar.

EURUSD chart:

Due to the fact that the overall situation in Europe is stabilizing after the “Brexit” referendum the value of European currency is increasing and already hit the level of resistance on EURUSD D1 chart (highlighted with yellow line) and the rate decreased a little bit. What is more, according to the indicator of technical analysis “Bollinger Bands” (period = 20, deviation = 2.0) there was a breakthrough of the upper line and it means that there might be a downward correction on a price chart as well.