Forex Today: NFP Forecast Beats Expectations

Adam Lemon

US stock markets and the US dollar rise as NFP forecast beats expectations.

  • The ADP non-farm payrolls forecast release yesterday estimated that 568K new jobs were created in the US last month, exceeding the expectation of 425k, boosting the US dollar and the US stock market.

  • In the Forex market, the USD is the strongest major currency, while the euro is the weakest. The EUR/USD currency pair closed yesterday at a new 1-year low price, meaning it is likely that we will see a further fall over the coming days to new lows.

  • Global stock markets are mostly higher today.

  • Last week saw the sixth consecutive weekly fall in global new confirmed coronavirus cases after over 2 months of weekly rises.

  • It is estimated that 46% of the world’s population has received at least one dose of a coronavirus vaccination.

  • Total confirmed new coronavirus cases worldwide stand at over 237 million with an average case fatality rate of 2.04%.

  • The rate of new coronavirus infections appears to now be increasing most quickly in Armenia, Australia, Bulgaria, Croatia, Dominican Republic, Egypt, Estonia, Latvia, Lithuania, Moldova, Romania, Russia, Singapore, Slovakia, and the Ukraine.

Adam Lemon

Adam Lemon began his role at DailyForex in 2013 when he was brought in as an in-house Chief Analyst. Adam trades Forex, stocks and other instruments in his own account. Adam believes that it is very possible for retail traders/investors to secure a positive return over time provided they limit their risks, follow trends, and persevere through short-term losing streaks – provided only reputable brokerages are used. He has previously worked within financial markets over a 12-year period, including 6 years with Merrill Lynch.
Learn more from Adam in his free lessons at FX Academy

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