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Why nonfarm payrolls may disappoint again: Jakobsen

Steen Jakobsen, chief economist at Saxo Bank, says he expects figures in the US employment report to be published on Friday may be significantly lower than predicted.

The number of new jobs is expected to be around 175,000, but Jakobsen says there is a risk the numbers could be as low as 100,000–110,000 new jobs given the poor state of the Fed’s labour market conditions index.

And, he says that if the nonfarm payroll data does disappoint again, the Fed may be more likely to lower interest rates and the US could also have a greater chance of entering recession.

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Trading FX this week - technical analysis: Kim

James Kim, a sales trader at Saxo Capital Markets Australia, examines trading strategies for the coming week in a technical analysis of forex charts.

Kim looks at the US dollar index, EURUSD, AUDUSD, USDJPY, Nikkei 225, S&P 500 and ASX 200.

He also looks at commodity charts including crude oil, copper, gold and silver.

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