NFP

The US is expected to add 170K jobs in January, while the Unemployment Rate is anticipated to hold steady at 4.1% during the same period.

NFP leading indicators point to a potentially above-expectation reading in Friday's jobs report - see what it might mean for the US Dollar!

With the monthly ADP payrolls figures delivering a solid set of data ahead of Friday’s nonfarm payrolls report, I take a closer look to see if the ADP can help pick the direction of NFP.

USD/JPY extends the decline from the start of the week to push below the January low (153.72).

USDJPY, Gold Forecast: Trade war risks between the world’s two biggest economies, the US and China, weaken the dollar and boost haven momentum on gold, and Yen recharges strength against dollar with rate hike projections.

Crude Oil Week Ahead: Crude oil retested its 2025 starting point, hovering near the key $72 support zone ahead of the first OPEC meeting of the year, next week's ISM PMI and Non-Farm Payrolls reports, and evolving energy policies under Donald Trump.

The market was already repricing US interest rates higher in recent days and week, amid expectations of inflationary policies under Donald Trump, when he takes office later this month. But the surprising strength of US labour market means traders have now shifted the full pricing of the next Fed rate cut to October.

I doubt we’ll be seeing too much weakness in December’s NFP figures later today, and that could prompt another bid for the USD. But with Trump likely to revive his disdain for a strong dollar, perhaps a pullback is not too far away.

Friday’s strong jobs report means the Fed is less likely to cut interest rates aggressively, but a strong economy nonetheless should support risk assets.

Yes, I may have just given the USD the kiss of death with that headline. Besides, the dollar has already rallied for four days into the release, so it may take a strong report overall to avoid a profit-taking pullback.

The US economy is anticipated to add 140K jobs in September following the 142K expansion the month prior.

The leading indicators point to a potentially better-than-expected reading in this month’s NFP report, with headline job growth potentially coming in somewhere in the 130K-200K range

EURUSD Forecast: With the US dollar stabilizing above the 100-mark for about a month, a double top on the EURUSD at the 1.120 resistance is in question. This comes alongside declining inflation and dovish sentiment in the Eurozone.

Like it or hate it, there is clearly demand for the USD index around 100. And should NFP and ISMs outperform against next week, it might spark a dollar rebound.

The leading indicators point to an as expected reading in this month’s NFP report, with headline job growth potentially coming in somewhere in the 130K-200K range

Leading indicators point to a below expected reading in this month’s NFP report, with headline job growth potentially coming in somewhere in the 125K-175K range.

Crude Oil Forecast: Oil’s track to 74 was halted by positive US GDP and declining inventories. What’s next for FOMC and NFP Week?