Apr 30 2007
Nonfarm Payrolls
Nonfarm Payrolls
The week of the Nonfarm Payrolls has arrived again. Last month 180K figure exploded the market, but ever since the USD has entered the crazy negative rally causing the EUR/USD to break the all time. The ADP Change in Nonfarm Payrolls is also about to be released before the NFP and as usual everybody is talking about how tight the correlation will be. Last month any connection between the both was completely random. Most analysts are expecting the ADP and the Nonfarm Payrolls to be weak this month. I have to say that this time I agree. I think that any figure above 110K will be a complete surprise, due to low performance in the US Labor market, and the economy itself.
It remains to be seen whether a possible strong figure will finish the negative rally, or simply slingshot the EUR/USD to the 1.40 Levels.
