Weekly US employment: a chance for the USD
The United States will release the weekly Unemployment Claims on October 21, at 15:30 MT time (GMT+3).
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?
There are different ways for taking advantage out of the NFP release. Firstly, you can check the strategy for trading on NFP. Secondly, pay attention to the economic calendar.
- 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
Similar
Gold Skyrocketed, USD Dropped. What Drives The Market Today?
The Fed is ready to start tapering in November. Since the markets were expecting this and it wasn’t a surprise, the USD slumped allowing risk-on currencies and gold to rally up.
High-Impactful Event for Forex: US Retail Sales
US Retail Sales will be out on October 15 at 15:30 MetaTrader time (GMT+3).
Latest news
What will move the market on October 25-29?
Last week was full of surprises! Stock indices have shown significant growth…
Will USD Stop Falling Today? Market Wrap
The US dollar is heading to close the seventh day in the red as it remains under selling pressure. The US data at 15:30 GMT+3 (jobless claims and Philly Fed Manufacturing Index) may support the greenback if it's strong.
Major Event Alert: Canadian Retail Sales
Canada will publish the Retail Sales and Core Retail Sales on October 22, at 15:30 MT time (GMT+3).
Deposit with your local payment systems
