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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Happy Wednesday, traders! We went through the Internet and found the best news for you, take a look!

Latest news

Market Crash Incoming?
Market Crash Incoming?

This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.

What Currency Will Overperform?
What Currency Will Overperform?

S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.

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

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