That day has come, guys! The Fed will hold a meeting at 21:00 GMT+3. It can be a highly impactful event. The markets expect the bank to hint about the timing of tapering.
NFP: Roller-coaster for the USD
What will happen?
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 September 3.
The NFP is considered one of the leading indicators of employment that represents the economic activity of the country. Additionally to this measure, you need to pay attention to the level of average hourly earnings and the unemployment rate released at the same time as NFP. Combined, they provide a powerful mixture that drives USD performance.
How to trade on the Non-Farm Payrolls?
Follow the economic calendar and compare the actual figures with the consensus given.
- If NFP and the average hourly earnings are higher and the unemployment rate – lower than the forecasts, the USD will rise;
- If the situation is different, the USD will fall.
Instruments to trade: EUR/USD, GBP/USD, USD/JPY
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Germany, the leading economy in the Euro Zone, will reveal one of the key economic indicators – German Ifo Business Climate on September 24 at 11:00 MT time.
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