Crucial event for Forex: NFP

Crucial event for Forex: NFP

Non-Farm payrolls will be out on Friday at 15:30 MT time! Are you ready?

Instruments to trade: EUR/USD, USD/CAD, USD/JPY, GBP/USD

Indeed, no event is more important for Forex than NFP. A few seconds after the release, charts usually start moving fast, creating huge swings. 1.371 million jobs were added in August, marking a decline from 1.734 million in the previous month. However, that rise hasn’t managed to offset 22 million jobs, which were lost in March and April. Therefore, the labor market is still well below pre-crisis levels. Nevertheless, the market’s reaction will depend on whether it beats estimates or not.

  • As a rule, when NFP comes out better than the forecasts, the USD rises.
  • When NFP is worse than the forecasts, the USD drops.

Check the economic calendar

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Don’t waste your time – keep track of how NFP affects the US dollar and profit!

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