Talking Points Today’s U.S. Non-Farm Payrolls report (NFP) may either send the DAX 30 soaring or may cause it ...
Talking Points
Today’s U.S. Non-Farm Payrolls report (NFP) may either send the DAX 30 soaring or may cause it to plunge.
The DAX is short-term bullish above last Friday’s low of 9336.
Today’s U.S. Non-Farm Payrolls report (NFP) may either send the DAX soaring, causing it to take out the January 27 high of 9931, which may trigger a rally to the January 13 high of 10,164.Or, on the flip side, it may cause it to plunge to Tuesday’s breakout level of 9594, eventually taking out the trend defining low of 9336. On a break to the trend defining low, the DAX may reach the February 24 low of 9122.
The outcome depends on the NFP beating or missing economists’ expectations, with a beat most likely triggering a higher DAX and vice versa. The unemployment rate will also be watched, but the unknown factor is trader’s reaction to wage inflation. With the unemployment rate at good levels, the Fed will watch various inflation gauges such as wage growth in deciding when it’s time to hike rates the next time.
Average Hourly Earnings are expected to grow by 0.2% MoM and 2.5% YoY, and a higher than expected reading will potentially boost expectations of Fed rate hikes, which may hurt the DAX 30.
A Bloomberg news survey consisting of 92 economists, has projected that the U.S. labor market added 195k new jobs from 151k last month, while the unemployment rate is expected to remain unchanged at 4.9%.
Today’s U.S. Non-Farm Payrolls report (NFP) may either send the DAX 30 soaring or may cause it to plunge.
The DAX is short-term bullish above last Friday’s low of 9336.
Today’s U.S. Non-Farm Payrolls report (NFP) may either send the DAX soaring, causing it to take out the January 27 high of 9931, which may trigger a rally to the January 13 high of 10,164.Or, on the flip side, it may cause it to plunge to Tuesday’s breakout level of 9594, eventually taking out the trend defining low of 9336. On a break to the trend defining low, the DAX may reach the February 24 low of 9122.
The outcome depends on the NFP beating or missing economists’ expectations, with a beat most likely triggering a higher DAX and vice versa. The unemployment rate will also be watched, but the unknown factor is trader’s reaction to wage inflation. With the unemployment rate at good levels, the Fed will watch various inflation gauges such as wage growth in deciding when it’s time to hike rates the next time.
Average Hourly Earnings are expected to grow by 0.2% MoM and 2.5% YoY, and a higher than expected reading will potentially boost expectations of Fed rate hikes, which may hurt the DAX 30.
A Bloomberg news survey consisting of 92 economists, has projected that the U.S. labor market added 195k new jobs from 151k last month, while the unemployment rate is expected to remain unchanged at 4.9%.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
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Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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