Keep your eye on the US Non-Farm Payrolls today! The US Jobs Report will be released at 12:30 p.m. (GMT).
Why Is This Important?
The Non-Farm Payrolls track the change in the number of people employed by the US in manufacturing, construction, and goods companies. It does not include farming industry employment. The US Jobs Report is so important for the upcoming Fed decisions.
At peace talks this week in Istanbul, Russia said it would curtail operations near Kyiv and the northern city of Chernihiv to build trust, though Ukraine and its Western allies dismissed Russia's pledge as a ploy to stem losses and prepare for other attacks. Investors have been worried that surging price pressures could force global central banks into aggressive rate hikes, potentially triggering recessions.
The US dollar extended a rebound versus major peers on Friday, also resuming its rally against the yen, ahead of a key U.S. jobs report that could cement the potential for a 50 basis-point Federal Reserve interest rate hike next month.
US Nonfarm Payrolls are expected to rise 475K in March versus 678K in the previous month. The Unemployment Rate is expected to move down to 3.7%. Average hourly earnings are expected to come out to 5.5%, year on a year basis.
EUR/USD: As long as the EURUSD pair trades above 1.1052, on a four-hourly basis, we will face 1.1114 as the resistance level. On the other hand, if the price drops below 1.1052, we will see the next support level at 1.1007.
Support: 1.1052 - 1.1007 - 1.0964
Resistance: 1.1114 - 1.1165
GBP/USD: As long as the GBPUSD pair stays below 1.3136, on a four hourly basis, we will follow the 1.3046 support level. Otherwise, if the price moves up above 1.3136, the next level will be at 1.3231.
Resistance: 1.3136 - 1.3231 - 1.3313
USD/CHF: Pay attention to the 0.9322 main resistance level in the USDCHF pair. As long as the pair stays below 0.9322 on a four-hourly basis, we will see a support level at 0.9186. On the other hand, If the pair moves up 0.9322, the next resistance level will be at 0.9437.
Support: 0.9186 - 0.9130 - 0.9064
Resistance: 0.9322 - 0.9437
GOLD: The Gold price rose above the 1932 main support level. As long as the price stays above 1932 on a four-hourly basis, we will see a resistance level at 1964. On the downside, if the price breaks down below 1932, the next support level will be at 1904.
Support: 1932 - 1904 -1873
Resistance: 1964 - 1995
01 Apr 22 (Fri)