Regency View:

US Non-Farm Payrolls Preview

US non-farm payroll numbers hit our screens at 1.30pm today, here’s the consensus forecast:

Payrolls are predicted to rise 180,000 in November following October’s 128,000 increase.

The unemployment rate is expected to be unchanged at 3.6%. The US labour force participation rate is forecast to stay at 63.3% and average weekly hours are forecast to remain at 34.4.

If we look at the US dollar index (below) we can see the the greenback has experienced a strong sell-off during the last two sessions. The market is closer to key structural support than key resistance.

Non-farms typically lead to a spike in short-term volatility so we’ll be watching from the sidelines this afternoon with a view to stepping in when a high probability trade setup presents itself.

US Dollar Index Daily Candle Chart