All eyes are on the Non-Farm Payroll announcement due out at the end of this week. The Non-Farm Payroll (NFP) is historically the largest market moving event on a trader’s calendar; NFP is released by the US Department of Labour each month and represents the number of people on the payroll of non-agricultural business. Market participants will be keeping a close eye on these numbers in order to gauge whether the Fed will start to consider a rate hike should the number have improved.
This week also marks the end of the third quarter which could mean we may see some squaring and re-positioning going into October.
It could be very volatile for the remainder of the week! The notable events to keep an eye on for the rest of the week include:
- Retail Sales – 1:30AM GMT Fri 2 Oct
- ADP Employment Change – 12:15PM GMT Wed 30 Sept
- Fed Chair Yellen Speaks – 7:00PM GMT Wed 30 Sept
- Non-Farm Payroll – 12:30PM GMT Fri 2 Oct
- Manufacturing PMI – 8:30AM GMT Thu 1 Oct
- Construction PMI – 8:30AM GMT Fri 2 Sept
- Manufacturing Index – 11:50PM GMT Thu 1 Oct
Brent Oil: the $47 level is key
Brent has been in a sideways range for most of September with price capped at $50.20 and $47.
Right now, the best trading plays are at the edges of price structure. Any volatility and breaks out of the range may give some opportunities on retests of the broken levels.
S and P Futures: Broken support level
The S and P futures broke through September’s lows and looks like it is retesting that support level from the underside. There is an ABCD pattern in play which completes at 1835.
EURUSD: Sellers at the highs?
This could be a volatile week for the USD pairs in FX. EURUSD has been range bound for the last week; a stop run at the highs on any volatile moves and we could see some supply come into this market.
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