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  • The Employment Situation -- October 2020

    From bls.gov

    Total nonfarm payroll employment rose by 638,000 in October, and the unemployment rate declined to 6.9 percent, the U.S. Bureau of Labor Statistics reported today. These improvements in the labor market reflect the continued resumption of economic activity that had been curtailed due to the coronavirus (COVID-19) pandemic and efforts to contain it. In October, notable job gains occurred in leisure and hospitality, professional and business services, retail trade, and construction. Employment in government declined. This news release presents statistics from two monthly surveys. The household survey measures labor ... (full story)

Added at 8:33am

  • U.S. added 638,000 jobs in October, unemployment rate slides to 6.9%

    From cnbc.com

    Employment growth was better than expected in October and the unemployment rate feel sharply even as the U.S. faces the challenge of surging coronavirus cases and the impact they could have on the nascent economic recovery. The Labor Department reported Friday that nonfarm payrolls increased by 638,000 and the unemployment rate was at 6.9%. Economists surveyed by Dow Jones had been looking for a payroll gain of 530,000 and an unemployment rate of 7.7% a touch lower than the September level of 7.9%. The jobless rate decline was positive as it came with a labor force participation rate that rose 0.3 percentage points ... (full story)

Another very good report! Too late for Trump.
how will XAU/USD respond to it?
Buy USD
Institutions want to sell USD and later buy at a low price. Beware
Zero impact in market jobs data news,mkt awaiting for Election Result Joe Biden President ,then US $ Boom bastic......
EURUSD has Sell Volume Signals and USDCHF Buy

Quoting jegas
Zero impact in market jobs data news,mkt awaiting for Election Result Joe Biden President ,then US $ Boom bastic......
IT is clear Biden will win. Stable govt.

Better COVID control under Biden at work and public places.

Analysts keep overplaying Stimulus card. The whole world is doing except Australia and NZ as they do not need to
Exactly ! in US Elections COVID Play a Major Role......... it destroy the trump camp...
Sell USD
BUY USD.
USD down and the big fall will be before the close of market by one hour or at Monday at the time of opening
looks like someone going to loose $5,000,000,000....
Quoting Hassa9
USD down and the big fall will be before the close of market by one hour or at Monday at the time of opening
What do you hinge your predictions on?
I thought strong data, couple with an imminent Biden win, will mean a strong USD?
  • Post #13
  • Quote
  • Edited at 6:35pm Nov 6, 2020 9:00am | Edited at 6:35pm
The EUR/USD will rise to 1.18922 and then fall to SMA(50)
Trump kept the US economy firing on all cylinders by ignoring Covid though that's why we're seeing such strong numbers coming out of America and poor data from Europe where every country has trashed their economy. Biden says he'll be copying the European model of lockdowns, tax rises so somehow I don't think we'll be seeing numbers like this for a while.
Quoting PipsCrapper
{quote} What do you hinge your predictions on? I thought strong data, couple with an imminent Biden win, will mean a strong USD?
Trump will loose and he will not agree with the result this mean big uncertainty in the US means USD will fall gold jpy and chf will fly
Biden leading in Penn and Georgia and Nevada. Trump can fight until cows come home. Nothing will happen

EURUSD at a good point in Monthly for a Sell off

Quoting ettrader
Trump kept the US economy firing on all cylinders by ignoring Covid though that's why we're seeing such strong numbers coming out of America and poor data from Europe where every country has trashed their economy. Biden says he'll be copying the European model of lockdowns, tax rises so somehow I don't think we'll be seeing numbers like this for a while.
Incorrect
He is not for a lockdown but for rule based work that accounts for COVID spreading
yes.. some people will blow account because of NFP NEWS.. This news is not what you can rush to trade, there are so many factors attached like election and covid.. Becareful guys.. Happy trading...
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Quoting Steamroller
Another very good report! Too late for Trump.
As per the report: "The number of permanent job losers, at 3.7 million in October,
changed little over the month but is 2.4 million higher than in February...In October, the number of long-term unemployed (those jobless for 27 weeks or more) increased by 1.2 million to 3.6 million, accounting for 32.5 percent of the total unemployed." In addittion as per the DOL:"The advance number of actual initial claims under state programs, unadjusted, totaled 738,166 in the week ending October 31, a decrease of 543 (or -0.1 percent) from the previous week. The seasonal factors had expected an increase of 6,099 (or 0.8 percent) from the previous week. There were 205,625 initial claims in the comparable week in 2019. In addition, for the week ending October 31, 52 states reported 362,883 initial claims for Pandemic Unemployment
Assistance."
Look at the charts, forget whoever will be president before you shout nonsense about USD.
On the Nov 2nd I told you $ will go down.
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