After heavy Wall Street correction on Thursday, today the Investors and traders will closely monitor the US non-farm payrolls report due later in the session. The market participants are anticipating a gain of 1.4 million jobs in August, the unemployment rate is expected to tick down to 9.8%. During this week, the ADP employment data showed the private sector added 428,000 jobs in August, compared to 1M expectation.
Key Technical levels to watch ahead of NFP report
DOLLAR INDEX (USD): The US dollar index (USD) trading slightly lower on Friday during the European session. Any break above 93.10 the next important level to watch 93.50 and 94.
Support: 92.50 and 92.10 Resistance: 93.10 and 93.50
GOLD(XAUUSD): The yellow metal price rebounded from the previous session losses, at the time of writing the yellow metal trading at $1937.
Support: 1920 and 1900 Resistance: 1945 and 1955
DOW JONES(DJI): Dow Jones futures attempted to rebound during the European session after its biggest drop since early June on Thursday.
Support: 28270 and 28070 Resistance: 28640 and 28800
EUR/USD: The currency pair ignored the less-than-expected German factory orders data and climbed to 1.1865 during the European session.
Support: 1.1820 and 1.1780 Resistance: 1.1880 and 1.1915