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High volatility alert: NFP
What will happen?
The United States will post the indicators of employment on April 2, at 15:30 MT time. You will get an opportunity to trade on the average hourly earnings, the unemployment rate, and, of course, on the non-farm payrolls (NFP). The last indicator tends to be the most important one. It represents the change in the number of employed people during the previous month without the farming industry. The US dollar reacts greatly to this data. There is even a strategy for trading NFP right after the release. Don’t downplay the importance of the other two indicators, though. Combined, they represent a significant fuel to the US currency. Last time, non-farm payrolls greatly outperformed the forecasts with an increase of 379K. The unemployment rate dropped to 6.2%. The only release that came out in line with the forecasts was the average hourly earnings. As a result, the USD strengthened.
How to trade on the NFP?
- If the NFP is greater than the forecasts, the USD will rise;
- In case of an alternative scenario, expect a fall of the USD.
Instruments to trade: EUR/USD, GBP/USD, USD/JPY
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In this article, you'll find the latest news and tech analysis of EUR/USD, gold, and GBP/USD!