Ticker tape by TradingView

Want to see our trades?

See all of our entries, exits, and analysis. Use code READER for 25% OFF!
Learn More about VIP

The Week Ahead: NFP, RBA, Employment Data & BoE

Let's look at the news event's we've got lining up this week...

RBA Rate Statement

The Reserve Bank of Australia (RBA) is the central bank of Australia which is responsible for the stability of the Australian Dollar currency, full employment, and economic prosperity and welfare of the Australian people.

In this rate statement, the RBA is expected to keep rates on hold at 0.10%. RBA policymakers might acknowledge the recent improvements in economic data, as well as progress on vaccinating its citizens. There is an optimistic bullish outlook for the Aussie Dollar as this is keeping traders hopeful for an RBA hike in months to come.

Employment Change Q/Q

The Quarterly Employment Change report is being released by "Statistics New Zealand" and is a measure of the change in the number of employed people in New Zealand. Job creation is an important leading indicator of consumer spending, which accounts for a majority of overall economic activity. The number of unemployed people is an important signal of overall economic health because consumer spending is highly correlated with labour-market conditions.

It is forecasted we see a slower pace of growth for the first quarter at 0.3% versus the previous 0.6% gain, and this should be enough to keep the unemployment rate steady at 4.9%. If we see an uprise in the actual figure then this could increase strength in the NZD and puts the Reserve Bank of New Zealand (RBNZ) closer to tightening monetary policy.

Monetary Policy Summary

The Bank of England (BoE) is releasing minutes of their meeting, which is expected to indicate a unanimous vote amongst the Monetary Policy Committee (MPC) members to keep policy unchanged.

There's also no actual changes to asset purchases at £895B. Some traders are expecting an optimistic statement from the central bank, given the recent progress the UK has with vaccination rates and the economy finally opening up from recent lockdown easing measures.

Non-Farm Employment Change

The Non-Farm Payroll (NFP) or also known as Non-Farm Employment Change data, released by the Bureau of Labor Statistics, is a key economic indicator for the US economy which represents the number of jobs added to US citizens, excluding farm, government, private household and non-profit organisation employees.

NFP data always causes a commotion in FX as it is an important indicator for the Federal Reserve Bank. When unemployment is high, policymakers tend to have an expansionary (stimulatory, with low-interest rates) monetary policy with the goal to increase economic output and increase employment.

This month we are seeing another strong month of hiring in the US, with the NFP expected to print a 975k increase versus the previous 916k increase last month, and the unemployment rate to tick lower to 5.7% from 6.0%. Huge strength in the USD is expected on Friday if we do see these figures come out as expected or better than expected.

Get Alerts every time we take a trade!

Join The VIP Community!

Our entries, exits, & analysis
Live webinar coaching calls
Trading chatrooms
Strategy library
Use Code "READER" for $5 OFF!
Join Now

Need a Better Broker?

Impeding Correction In The Equities Markets?

9/17/2021 Stocks are down -0.58% this morning after coming down to test a significant level of support once again. While stocks fall, the dollar rises in the anticipation of sooner-than-expected tapering by the Fed along with a hike in interest rates starting in 2022. Our outlook Other than September being one of the worst months […]

Read More
EURUSD- Is It Now Time To Sell This Pair?

9/16/2021 The Euro-Dollar pair is down over 0.5% today after several days in the red. Today's speech by EU president Lagarde mentioned how the economic recovery had come quicker than expected six months ago. This was praised by the prompt vaccine distribution so citizens could get back to work. Across the pond, the US just […]

Read More
What To Make Of The Latest CPI News

9/14/2021 This morning's report on CPI m/m and core CPI m/m came in at a lower percentage than expected which resulted in a falling dollar pre-New York session. The USD is now volatile under the uncertainty of potential tapering and rising rates while the equities market seems to be rising because of this. Our outlook […]

Read More
Institutions Dumped The Buck- How To Trade This

9/13/2021 Big money has been moving out of Australia's currency for nearly a month now which has been the biggest drop in long contracts in this amount of time year-to-date. Australia's dollar index (AXY) is up 0.06% at 73.61 on the day after rebounding from the lows around 71.19. Our outlook Australia's economy has surprised […]

Read More
DISCLAIMER: All comments made by TraderNick’s Forex Group, LLC are for educational and informational purposes only. All comments should not be construed as investment advice regarding the purchase or sale of any securities or financial instrument of any kind. Please consult with your financial adviser before making an investment decision regarding any securities or financial instruments mentioned by TraderNick’s Forex Group, LLC. TraderNick’s Forex Group, LLC assumes no responsibility for your trading and investment results. All information on any of the platforms utilized by TraderNick’s Forex Group, LLC was obtained from sources believed to be reliable, but we do not warrant its completeness or accuracy, or warrant any results from the use of the information. TraderNick’s Forex Group, LLC, its employees, representatives, and affiliated individuals may have a position or effect transactions in the securities and financial instruments herein and or otherwise employ trading strategies that may be consistent or inconsistent with the provided strategies. Trading of any type involves very high risk and may not be suitable for all investors. TraderNick’s Forex Group, LLC, its subsidiaries and all affiliated individuals assume no responsibility for your trading and investment result. Read our full disclaimer here

A1 Trading Company

A1 Trading Company is a financial services and media business founded in Atlanta, USA.
linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram