Burning outlook: US employment report from the ADP at 12:15 London time
Number of new jobs for July – forecast +
Previous value + 158 K
Forecast range + 151 K + 195 K
Why is this important?
Employment and its dynamics are the most important factor of the state of the economy – along with GDP, inflation and interest rates.
It is obvious that the economy is in the state of healthy growth.
The US economy is in a state of steady growth.
However, in order to influence the Fed in the direction of raising the policy of hiking rates, something more needs to be done – for example, employment growth is higher than +220 K.
Our forecast is likely an attempt to increase the EURUSD rate above 1.1845, towards 1.1950.
But in case there is a very strong data (above +220 K) – we will see a reversal and the Euro will fall below 1.1780 towards 1.1680.
The material has been provided by InstaForex Company – www.instaforex.com