USD Volatility Expected as September NFP Data Release Approaches

USD pairs are poised for increased volatility as markets await the delayed September Non-Farm Payrolls report, scheduled for release this week following the historic government shutdown. The data, though lagging by over a month, represents the first glimpse into US employment conditions post-shutdown and could influence Federal Reserve policy expectations. Market consensus anticipates September payrolls around 180K, with unemployment rate holding steady at 3.5%. The delayed release adds complexity to traders' analysis as they must weigh outdated data against current market conditions. Major USD pairs including EUR/USD, GBP/USD, and USD/JPY have been consolidating in tight ranges, with traders reluctant to take significant positions ahead of the release. Technical indicators suggest EUR/USD faces resistance at 1.0950 while support lies at 1.0900. The report's impact may be muted given its dated nature, but any significant deviation from expectations could still trigger notable USD movements across major pairs.