21 September 2021, EUR/USD
EURUSD trading plan:
A JPMorgan model that came closer than virtually all other forecasts in predicting last month's big U.S. employment report shortfall is pointing to another weak jobs number for September. The jobs tracker created by the bank's quantitative research team, fed by a range of alternative data including Chase credit card usage and airport security check volumes, suggests that September job growth will come in at 333,000. The latest estimate from the quant team's model is down by nearly a quarter million from two weeks ago, and tracks a drop-off in consumer outlays on things like airline travel and restaurants, based on Chase credit card usage data. This is negative news for the dollar.
Investment idea: buy 1.1708 and take profit 1.1770.
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