NFP Will Choose the Direction for USD and Gold
United States Bureau of Labor Statistics will release monthly average hourly earnings, non-farm employment change (NFP), and unemployment rate on November 5, 14:30 GMT+2.
United States Bureau of Labor Statistics will release monthly average hourly earnings, non-farm employment change (NFP), and unemployment rate on November 5, 14:30 GMT+2. Millions of eyes watch these data closely because it shows us the overall economic health. Average hourly earnings are the earliest data related to labor inflation. NFP and unemployment rate help to understand overall economic health, thus, predict future Fed’s readings result.
All three readings are important because they are released monthly, making them pretty accurate indicators of the current state of the economy. However, last month didn’t result in big swings in the price of related assets. Gold, which is usually affected by the data because of the USD reaction (these assets have inverse correlation), made a big volatile move, but only for an hour. A little bit later everything went back to normal. It is still a reaction we can trade on and it is interesting to see the price movements this time.
This data will make a great impact on different assets, including gold, USD-related pairs, and the stock market, especially S&P 500 index.
Instruments to trade: XAU/USD, EUR/USD, USD/CAD.
For a long time, traders considered American Non-farm Payrolls (NFP) the most important release in the market. However, the situation has changed. Now US CPI moves financial markets.
United States Bureau of Labor Statistics will release monthly average hourly earnings, non-farm employment change (NFP), and unemployment rate on October 8, 15:30 GMT+3.
The Japanese yen fell to its lowest level against the US dollar in 33 years. Read the full report to learn the next target for USDJPY!
The US stock market fell in the third quarter. What's going on and why economists think that the last quarter will be better? Let's discuss it all here.
BlackRock CEO forecasts the Fed may have to raise rates further. The US dollar index (DXY) gains 130 points today. Read the full report to get more fresh news and technical analysis!
FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.
Your request is accepted.
A manager will call you shortly.
Next callback request for this phone number
will be available in
If you have an urgent issue please contact us via
Live chat
Internal error. Please try again later
Don’t waste your time – keep track of how NFP affects the US dollar and profit!
|
