[ECONOMY] Why US economy will have more better growth than other countries? Recovery is STRONG and the Non- Farm Payroll data prove it and NEXT will be Rate hike on September that will make USD Soaring !!
I am BACK again bringing new news on the world economy !
Today, Friday when the USA Non- Farm Payroll data released and the results are :
- Unemployment rate 4.9% vs 4.8% exp. Prior 4.9%
- Prior 287k. Revised to 292k
- Participation rate 62.8% vs 62.7% prior
- Average hourly earnings 0.3% vs 0.2% exp m/m. Prior 0.1%
- Underemployment 9.7% vs 9.6%
- Private payrolls 217k vs 170k ecp. Prior 265k. Revised to 259k
- Government payrolls 38k vs 22k prior. Revised to 33k
- Manufacturing payrolls 9k vs 4k exp. Prior 14k. Revised to 15k
- 2.6% vs 2.6% exp y/y. Prior 2.6%
- Two month net payroll revision 18k
This is very strong data and there is nothing to dislike about the datas. Good revisions, higher across all sectors, higher earnings on the month. The only negatives is the unemployment rate and underemployment, but that's to do with the participation rate.
Because of this good result, USD soaring across and make all of the basket currencies fall.
EUR/USD after NFP report
The price fall from 1.1148 to 1.1094 it was nearly 60 pips, Lets look at other currency
AUD/USD after NFP report
The price fall from 0.7658 to 7618 it was nearly 40 pips
Looks , how strong job report affecting the price of the currencies as this report will have more better view on the economy growth. If next month's jobs reports even meets expectations, the Fed should be forced to raise rates in September. Unless they want to lose all credibility and the market will no longer price in any rate hikes for the next 7 years.
Today is the last day of trading, next will be started on Monday. And here the looks for next weeks price for USD. Bull for USD will dominant or more strong than the Bear so Hold your position if you already Long on USD.
AUD/USD next week look and prediction
AUD/USD will complete the retracement today and already test the key 3 times and declined. Price closed below 0.7620 indicating Bull in control also it will formed PINBAR CANDLESTICK PATTERN which is indicating strong reversal will coming.
2 red lines that I draw on the chart indicating divergent scheme where the price will start following the downtrend lines
The short term target is the Blue line
So, that is the looks for AUD next week and dollar will be STRONG next week.
Would you like for me to update daily FOREX signal?
and I will gladly teach you how I make trade and do analysis using MAGNETIC LINES
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