What will happen? The FOMC statement will be published at 21:00 MT (GMT+3) on Wednesday, July 28…
NFP: an opportunity for the USD?
The level of non-farm payrolls, also known as non-farm employment change or NFP is expected at 15:30 MT time on October 4.
The indicator represents the change in the number of employed people during the previous month without farmers. Traders pay huge attention to it, as it makes the US dollar highly volatile after the release. Also, we recommend you not to underestimate the unemployment rate and the level of average hourly earnings. These indicators are released at the same time as the non-farm payrolls and they tend to affect the USD as well. The previous release of jobs data disappointed the market. Despite a higher-than-expected level of average hourly earnings (0.4% vs. %0.3 expected), the level of NFP declined by 130 thousand jobs. It resulted in mixed trading of the USD. This time it may lead to a different outcome.
• If the NFP is higher than the expectations, the USD will rise;
• If the NFP is lower than the expectations, the USD will fall.
What will happen? US consumer confidence will be announced at 5:00 MT (GMT+3) on Tuesday, July 27…
The OPEC meeting and the US Nonfarm Payrolls rocked the market last week. The market is torn between optimism about the global economic recovery and concerns about the new coronavirus strains.
Read a short market wrap before trading today!
The United States will publish the non-farm employment change, also known as non-farm payrolls or NFP at 15:30 MT (GMT+3) time on August 6.
Our analyst discusses the latest news and shares his trade ideas on gold, EUR/USD, and S&P 500. Jump in!