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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?
S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.
The United States Bureau of Labor Statistics will publish the US Consumer Price Index (CPI) m/m on January 12 at 15:30 GMT+2. The index measures a change in the price of goods and services purchased by consumers.
2022 was rough: inflation, energy crisis, and plenty of other controversial situations…
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