Friday Trades: EUR/USD, USD/JPY, and Gold
The overall market sentiment is risk-on. The S&P 500 index (US 500) is getting close to the all-time high. Oil is recovering quickly from its recent losses.
NFP will bring volatility to the USD
The United States will release the level of Non-Farm Employment Change, also known as Nonfarm Payrolls or NFP, at 15:30 MT time on April 5.
The NFP represents the number of employed people during the previous month, excluding the farming industry. This is one of the most important measures of employment in the US. Traders pay huge attention to this indicator, as it makes the greenback extremely volatile after the release. Last time, the indicator reached only 20 thousand payrolls (vs. 180 thousand jobs expected). It weakened the USD. Let’s see if the indicator comes out higher this time.
• If the NFP is higher than expected, the USD will rise.
• If the NFP is lower than expected, the USD will fall.
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