Economic news 2017-10-06

 

EXPLENATION OF THE ECONOMIC NEWS

• Nonfarm Payrolls measures the change in the number of people employed during the previous month, excluding the farming industry. Job creation is the foremost indicator of consumer spending, which accounts for the majority of economic activity. A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD.
• The Unemployment Rate measures the percentage of the total work force that is unemployed and actively seeking employment during the previous month. A higher than expected reading should be taken as negative/bearish for the USD, while a lower than expected reading should be taken as positive/bullish for the USD.

GEOPOLITICAL NEWS THAT COULD EFECT THE MARKET

Except for the news about how  Putin is the new co-pilot on OPEC, today all eyes will be on the NFP report.