Another robust NFP report would encourage a stronger USD in the near-term – MUFG

…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for FREE REGISTER to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level1)]

Economists at MUFG Bank expect a strong Nonfarm Payrolls report on Friday to provide further support to the greenback.

“Market attention in the coming days will now turn to the passage of the bill through Congress. While there is genuine unease about the deal amongst Democrats and Republicans which could make it a close call, we expect the deal to be passed to suspend the debt ceiling in time. By passing the deal ahead of the X date the US economy will avoid a bigger negative shock.”

“Assuming that US politicians don’t surprisingly reject the deal, market attention should switch back to the health of the US labour market in the week ahead including the release of the NFP report on Friday. The US rate market has been moving to price in a higher probability of another 25 bps hike from the Fed at next month’s FOMC meeting, which is now judged as more likely than not. Another strong employment report this week would further reinforce those expectations and encourage a stronger USD in the near-term.”

[/s2If]
Nehcap Expert Advisor
The NEHCAP MT4 EA is high quality professional trading system geared to generate returns without using GRID or martingales. Each trade has strict risk per trade parameter. The pairs under management include EURUSD, GBPUSD, AUDCAD, AUDNZD,GBPAUD, EURAUD, EURCAD, CHFJPY and many more.
The system is trading live: LIVE ACCOUNT TRACKING
You can run it free. Apply for a free trial and track our account. Buy the system or use profit share mechanism to generate returns on your MT4.
Join Our Telegram Group