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NFP above 230k to boost the Greenback - FXStreet

FXStreet (Bali) - Valeria Bednarik, Chief Analyst at FXStreet, notes that if the NFP number comes above 230K, the USD will likely boost the Greenback particularly against EUR and JPY.

Key Quotes

"On Friday the US will release its monthly Non Farm Payroll data: early August the release showed that nonfarm payrolls rose by 209,000 in July, missing economists' forecasts of a 230,000 gain, while unemployment rate ticked higher to 6.2%, still within FED’s mandate."

"Market was disappointed with the number, as expectations among investors were of a stronger than expected reading, but the movement was short lived: dollar closes the month higher against most rivals, exception made by commodity currencies, barely higher against the American currency."

"For this month, expectations are of 210K which means a higher number, particularly if it comes above that missed 230K, will likely boost the greenback particularly against EUR and JPY. Another disappointment however, will be dollar negative, with AUD and CAD better poised for a run higher."

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