{"id":38464,"date":"2023-10-12T14:08:59","date_gmt":"2023-10-12T14:08:59","guid":{"rendered":"https:\/\/fxglobe.wpenginepowered.com\/?p=38464"},"modified":"2024-01-08T17:35:21","modified_gmt":"2024-01-08T17:35:21","slug":"fxglobe-weekly-market-review-a-rollercoaster-nfp-week-and-what-to-expect-next","status":"publish","type":"post","link":"https:\/\/www.fxglobe.com\/es\/fxglobe-weekly-market-review-a-rollercoaster-nfp-week-and-what-to-expect-next\/","title":{"rendered":"FXGlobe Weekly Market Review: A Rollercoaster NFP Week and What to Expect Next"},"content":{"rendered":"\n<p>Welcome to another edition of FXGlobe&#8217;s weekly market review. This week was a ride of epic proportions\u2014thanks largely to the much-anticipated <strong>Non-Farm Payrolls<\/strong> (NFP) release.<\/p>\n\n\n\n<p>Let&#8217;s dive into the economic indicators, chart movements, and major events that defined the trading week, and see what might be in store for the days ahead.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Last Week&#8217;s Economic Indicators<\/strong><\/h2>\n\n\n\n<p><strong>U.S. Data<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>ISM Manufacturing PMI<\/strong>: The week kicked off with the <a href=\"https:\/\/www.fxglobe.com\/weekly-forex-market-review-of-activity\/\" data-type=\"post\" data-id=\"38172\">ISM Manufacturing<\/a> PMI coming in at 49.0, surpassing expectations of 47.8 but still showing contraction in the sector.<\/li>\n\n\n\n<li><strong>JOLTS Job Openings<\/strong>: A notable beat with 9.61 million job openings, significantly outperforming the expected 8.81 million.<\/li>\n\n\n\n<li><strong>Non-Farm Employment Change<\/strong>: This was the headline of the week. A smashing 336K jobs were added, leaving forecasts in the dust and reinvigorating discussions about economic recovery.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Australian and New Zealand Data<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>AUD Cash Rate<\/strong>: Held steady at 4.10%, with the Reserve Bank of Australia releasing a rate statement that didn&#8217;t rock the boat.<\/li>\n\n\n\n<li><strong>NZD Official Cash Rate<\/strong>: Remained unchanged at 5.50%, with no unexpected twists in the RBNZ&#8217;s rate statement.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Chart Analysis: What the Market is Telling Us<\/h2>\n\n\n\n<p><strong>The USD had a volatile session<\/strong>, surging on the <a href=\"https:\/\/www.linkedin.com\/posts\/bader-alsarraf_usd-surges-amid-market-volatility-nfp-edition-activity-7103608015794094080-LIlM\" target=\"_blank\" rel=\"noreferrer noopener\">NFP release<\/a> but then reversing its gains aggressively. We observed bullish engulfing candles in the daily charts across all asset classes. This could indicate a weakening USD and opportunities in <a href=\"https:\/\/www.fxglobe.com\/can-this-week-go-even-further\/\" data-type=\"post\" data-id=\"32717\">EURUSD<\/a>, Silver, Bitcoin, and global indices. The US30 producing a very bullish engulfing candle off of support suggests an interest in pushing higher in the coming days.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/www.fxglobe.com\/wp-content\/uploads\/2023\/10\/15.weekly6oct2023_us30_spotdaily-1024x576.png\" alt=\" us30 spot daily chart\" class=\"wp-image-38477\" srcset=\"https:\/\/www.fxglobe.com\/wp-content\/uploads\/2023\/10\/15.weekly6oct2023_us30_spotdaily-1024x576.png 1024w, https:\/\/www.fxglobe.com\/wp-content\/uploads\/2023\/10\/15.weekly6oct2023_us30_spotdaily-300x169.png 300w, https:\/\/www.fxglobe.com\/wp-content\/uploads\/2023\/10\/15.weekly6oct2023_us30_spotdaily-768x432.png 768w, https:\/\/www.fxglobe.com\/wp-content\/uploads\/2023\/10\/15.weekly6oct2023_us30_spotdaily-1536x864.png 1536w, https:\/\/www.fxglobe.com\/wp-content\/uploads\/2023\/10\/15.weekly6oct2023_us30_spotdaily.png 1920w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>The TECH100 weekly chart here is now producing a strong bullish candle off of support, even as the prior week\u2019s candle was also bullish off support. Another signal of the intent to climb higher next.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/www.fxglobe.com\/wp-content\/uploads\/2023\/10\/15.weekly6oct2023_ut100_spotweekly-1024x576.png\" alt=\" ut100 spot weekly chart\" class=\"wp-image-38487\" srcset=\"https:\/\/www.fxglobe.com\/wp-content\/uploads\/2023\/10\/15.weekly6oct2023_ut100_spotweekly-1024x576.png 1024w, https:\/\/www.fxglobe.com\/wp-content\/uploads\/2023\/10\/15.weekly6oct2023_ut100_spotweekly-300x169.png 300w, https:\/\/www.fxglobe.com\/wp-content\/uploads\/2023\/10\/15.weekly6oct2023_ut100_spotweekly-768x432.png 768w, https:\/\/www.fxglobe.com\/wp-content\/uploads\/2023\/10\/15.weekly6oct2023_ut100_spotweekly-1536x864.png 1536w, https:\/\/www.fxglobe.com\/wp-content\/uploads\/2023\/10\/15.weekly6oct2023_ut100_spotweekly.png 1920w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>USOil has retraced on the weekly down to a recent <a href=\"https:\/\/www.fxglobe.com\/the-hidden-truths-of-major-currencies-revealed\/\" data-type=\"post\" data-id=\"32618\">major support level<\/a>. The trend is still up, but will it hold. If it does, this is where it could turn.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/www.fxglobe.com\/wp-content\/uploads\/2023\/10\/15.weekly6oct2023_usoil_spotweekly-1024x576.png\" alt=\"usoil spot weekly chart\" class=\"wp-image-38497\" srcset=\"https:\/\/www.fxglobe.com\/wp-content\/uploads\/2023\/10\/15.weekly6oct2023_usoil_spotweekly-1024x576.png 1024w, https:\/\/www.fxglobe.com\/wp-content\/uploads\/2023\/10\/15.weekly6oct2023_usoil_spotweekly-300x169.png 300w, https:\/\/www.fxglobe.com\/wp-content\/uploads\/2023\/10\/15.weekly6oct2023_usoil_spotweekly-768x432.png 768w, https:\/\/www.fxglobe.com\/wp-content\/uploads\/2023\/10\/15.weekly6oct2023_usoil_spotweekly-1536x864.png 1536w, https:\/\/www.fxglobe.com\/wp-content\/uploads\/2023\/10\/15.weekly6oct2023_usoil_spotweekly.png 1920w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>EURUSD weekly, after 11 red weeks, we have our first green weekly candle, and a <a href=\"https:\/\/www.fxglobe.com\/ftse-100-looking-for-a-rollover\/\" data-type=\"post\" data-id=\"24323\">bullish rejection candle<\/a> at that. A positive sign, implying that a move higher could be on the cards next.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/www.fxglobe.com\/wp-content\/uploads\/2023\/10\/15.weekly6oct2023_eurusdweekly-1024x576.png\" alt=\"eurusd weekly chart\" class=\"wp-image-38507\" srcset=\"https:\/\/www.fxglobe.com\/wp-content\/uploads\/2023\/10\/15.weekly6oct2023_eurusdweekly-1024x576.png 1024w, https:\/\/www.fxglobe.com\/wp-content\/uploads\/2023\/10\/15.weekly6oct2023_eurusdweekly-300x169.png 300w, https:\/\/www.fxglobe.com\/wp-content\/uploads\/2023\/10\/15.weekly6oct2023_eurusdweekly-768x432.png 768w, https:\/\/www.fxglobe.com\/wp-content\/uploads\/2023\/10\/15.weekly6oct2023_eurusdweekly-1536x864.png 1536w, https:\/\/www.fxglobe.com\/wp-content\/uploads\/2023\/10\/15.weekly6oct2023_eurusdweekly.png 1920w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">Looking Ahead: Key Events for Next Week<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>U.S. Core CPI and CPI m\/m<\/strong>: With inflation on everyone&#8217;s mind, these metrics could influence market direction.<\/li>\n\n\n\n<li><strong>FOMC Meeting Minutes<\/strong>: The Federal Reserve&#8217;s thoughts on the current economic situation may trigger market movements.<\/li>\n\n\n\n<li><strong>GBP GDP m\/m<\/strong>: After a decline of 0.5% last month, the market is looking for a 0.2% growth. How this will affect the pound remains to be seen.<\/li>\n<\/ul>\n\n\n\n<p>The market moves from last week have set up the coming week for some potentially strong reversals in several asset classes. As traders, we&#8217;re always looking for these kinds of opportunities. So, gear up for another exciting week ahead!<\/p>\n\n\n\n<p>That&#8217;s it from <em>FXGlobe for this week<\/em>. For more in-depth analyses and <a href=\"https:\/\/www.fxglobe.com\/a-pullback-and-a-break\/\" data-type=\"post\" data-id=\"24316\">market opportunities<\/a>, don&#8217;t forget to visit FXGlobe.com. Keep calm and carry on trading!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Welcome to another edition of FXGlobe&#8217;s weekly market review. This week was a ride of epic proportions\u2014thanks largely to the much-anticipated Non-Farm Payrolls (NFP) release. Let&#8217;s dive into the economic indicators, chart movements, and major events that defined the trading week, and see what might be in store for the days ahead. Last Week&#8217;s Economic [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":44568,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_seopress_robots_primary_cat":"","_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","footnotes":"","_links_to":"","_links_to_target":""},"categories":[1],"tags":[],"class_list":["post-38464","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-updates"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.fxglobe.com\/es\/wp-json\/wp\/v2\/posts\/38464","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.fxglobe.com\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.fxglobe.com\/es\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.fxglobe.com\/es\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/www.fxglobe.com\/es\/wp-json\/wp\/v2\/comments?post=38464"}],"version-history":[{"count":0,"href":"https:\/\/www.fxglobe.com\/es\/wp-json\/wp\/v2\/posts\/38464\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.fxglobe.com\/es\/wp-json\/wp\/v2\/media\/44568"}],"wp:attachment":[{"href":"https:\/\/www.fxglobe.com\/es\/wp-json\/wp\/v2\/media?parent=38464"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.fxglobe.com\/es\/wp-json\/wp\/v2\/categories?post=38464"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.fxglobe.com\/es\/wp-json\/wp\/v2\/tags?post=38464"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}