The United States will release the level of Non-Farm Employment Change, also known as Nonfarm Payrolls or NFP, at 15:30 MT time on May 3. The NFP is considered as the leading indicator of consumer spending. Last time the indicator came out higher than expected. However, the level of average hourly earnings, released at the same time, disappointed the market. It resulted in mixed trading of the USD. This month can lead to a different outcome.
• If the NFP is higher than expected, the USD will rise.
• If the NFP is lower than expected, the USD will fall.
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Don’t waste your time – keep track of how NFP affects the US dollar and profit!
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