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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.
Optimistic forecasts on oil prices, nuclear talks with Iran, and upcoming OPEC+ meeting. How to trade oil these days?
The US Bureau of Economic Analysis will publish Core Personal Consumption Expenditures (PCE) on May 27 at 15:30 GMT+3.
The United States will publish the Preliminary GDP on Thursday, May 26, at 15:30 GMT+3.
The Reserve Bank of New Zealand will publish a monetary policy report and make an update on the interest rate on May 25, at 05:00 GMT+3.
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