The first week of November promises to be eventful, as we have the Fed meeting, the BOE update, and the NFP release. Read more details here.
How Will USD React to NonFarm Payrolls?
What will happen?
NonFarm Payrolls data will be announced at 15:30 MT (GMT+2) on Friday, December 3.
This is vital economic data released shortly after the month ends. Job creation is an important leading indicator of consumer spending, which accounts for most of the overall economic activity.
Last time the result overperformed the expectations, but EUR/USD rose, as the risk of an earlier tapering decreased.
How to trade on NonFarm Payrolls?
- If the US NonFarm Payrolls is greater than forecast, the USD is likely to strengthen against other currencies.
- If the US NonFarm Payrolls is lower than forecast, the USD is likely to weaken against other currencies.
Instruments to trade: USD/CAD, USD/CHF, GBP/USD
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Good morning, dear traders! Hope you’re doing great! Let’s talk about the news that is worth following today! Key market events: 15:30 MT, CAD GDP m/m 17:00 MT, GBP BOE Gov Bailey Speaks Oil is tensed again Oil rose as China refined its approach…
Happy Friday, traders! Are you ready to trade at the end of the week? Here’s what you need to know before you start: