How Energy Crisis Affects German PMI August 23, 2022, 10:30 GMT+3 Germany will publish Flash Manufacturing PMI data on Tuesday, August 23, at 10:30 MT time (GMT+3)…
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.
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Main news that will drive the market in the upcoming week include CB Consumer Confidence Index, Canadian GDP, and US Core PCE Price Index
The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.