Preview for September US NFP and Price Action Outlook for US Dollar

Talking Points:

– The September US Nonfarm Payrolls report is due to show jobs growth around +200K, following the ADP Employment and ISM Non-Manufacturing/Services reports released earlier this week.

– The DXY Index technical structure has become more bullish in recent days; a retest of the August high is not out of the question.

Retail traders remain net-long EUR/USD and GBP/USD, fading the US Dollar rally.

Looking for longer-term forecasts on the US Dollar? Check out the DailyFX Trading Guides.

The US Dollar’s recent rally (via the DXY Index) is taking a breather today, ready to snap six straight days of gains ahead of the release of the September US Nonfarm Payrolls report tomorrow. But with US Treasury yields across the curve pushing to multi-year highs, traders have been quick to buy the US Dollar dip. It seems that the September NFP release will do little to break current sentiment around the greenback.

Join me for live coverage of the September US NFP report at 8:15 EDT/12:15 GMT

Current expectations for the US jobs data remain modest, even after better than expected ADP Employment (+230K versus +184K expected) and ISM

Article source: https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/top_fx_headlines/2018/10/04/Preview-for-September-US-NFP-and-Price-Action-Outlook-for-US-Dollar.html