Global macro overview 04/09/2015:
The main event of the day is the Non-Farm Employment Change news release that is currently expected to hit the level of 215k. This jobs report is rather important for the US economy.
Ahead of the Federal Reserve meeting, which will take place in under two weeks, market participants are very cautious. Today the market is rather quiet that is typical for this kind of important news release, especially if the NFP number might influence the Fed's attitude towards the first possible rate hike in six years. Please notice that I would expect to see a lot of volatility around the news release.
The US Dollar Index technical picture shows a strong rebound from the 93.13 support with daily candle close way above the level. Any better-than-expected figures might result in a test at the level of 98.33. Please bare in mind the golden trend line as well.
The release is scheduled as follows:
12:30 USA Unemployment Rate exp. 5.2%
12:30 USA Non-Farm Employment Change exp. 215K
12:30 USA Change in Private Payrolls exp. 215K
12:30 USA Average Hourly Earnings Aug exp. 0.2% m/m; 2.1% y/y
12:30 USA Participation rate exp. 62.6%
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