NonFarm Payrolls Report Release Anxiously Awaited

BinaryOptionsNow | Published on September 2, 2011 at 9:49 am

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The world’s most closely watched report will be released today — the US government non-farm payroll report (12:30pm GMT) — with high impact expected for US forex pairs and major indexes. Hiring probably slowed in August as American companies became less optimistic about the strength of the recovery, economists said before a report today.

Payroll numbers are expected to increase 68,000 workers after a 117,000 increase in July, according to the median forecast of 86 economists surveyed by Bloomberg News before a Labor Department report. The unemployment rate probably held at 9.1 percent, marking 26 out of the last 28 months where it has been at or above 9 percent.

Trade the News: Today’s Key Economic Events Summarized
NFP Unemployment Rate in the US and Construction PMI in the UK are the major events to look out for. Here is an outlook on additional market-moving reports to come out today.

Later in the US, in addition to the NFP report we have Average Hourly Earnings due to see a reduction from 0.4% on July to 0.2% this month.

Impact on GBP
In Great Britain, Construction Purchasing Managers’ Index (PMI), Survey (170 managers) to measure the business conditions change on the last month, 53.1% is forecasted that is similar to the previous time.

Impact on CHF
In Switzerland, Employment Level, number of employed people is due to remain 4.11M similar to the last month.

Impact on AUD
In Australia, Private Capital Expenditure, a quarterly measurement that is about to rise to 4.1% from 3.4% on the last report. Later in Australia, Retail Sales is about to remain 0.3% similar to the last report, and Commodity Prices is due to remain 27.6%.

Timezone: GMT


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GBP/USD bounces off support as another month of contraction was reported in the manufacturing sector, but it wasn’t terrible. The purchasing managers index dropped to 49 points, within the low expectations of 48.9 points.

Pound/dollar dipped to the 1.62 line prior to the release, on fear of a weaker figure, and is now back in the previous range.


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Index charts all show short term bullish formations after forming bases for much of August. Indicator charts are also all positive, with gains shown from very low levels.

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Japanese and Australian stock futures including the Aussie mining giant BHP Billiton fell ahead of a report forecast to show the U.S. added fewer jobs in August, adding to signs the world’s largest economy is still struggling.

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Source: StartOptions

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