
The US Census Bureau will announce Core Retail Sales and Retail Sales on Tuesday, May 17 at 15:30 MT.
The US Bureau of Labor Statistics will announce average hourly earnings, nonfarm employment change (NFP), and the unemployment rate on May 6, at 15:30 MT time. This data is published monthly, usually on the first Friday of the month. Average hourly earnings and nonfarm payrolls don’t include the farming industry due to its seasonality. The unemployment rate is a key indicator of overall economic health that helps analysts assess the US economic situation.
Despite worries about inflation and the Russian-Ukrainian conflict, US businesses are still hiring at full capacity. More people are returning to the labor market, including retired people, probably attracted by higher wages. In March, the central bank raised interest rates by a quarter of a percentage point for the first time since 2018 to curb high prices.
The previous release encouraged the growth of the USD in many pairs. For example, the GBPUSD lost almost 600 points. The unemployment rate was 3.7% vs. 3.6% expected, and nonfarm payroll was 431K VS. 492K. For the last six months, the forecast used to be quite different from the “actual,” so the results are always difficult to foresee.
If NFP is higher than expected, the USD will rise. If NFP is lower than expected, the USD will fall. The unemployment rate situation is the opposite: the lower the indicator, the better for the US currency.
Check the video from our analyst to learn more about a NFP trading strategy!
Check the Economic Calendar.
Instruments to trade: EURUSD, USDCAD, USDCHF.
The US Census Bureau will announce Core Retail Sales and Retail Sales on Tuesday, May 17 at 15:30 MT.
The Bank of England will publish its Monetary Policy Report and Summary, Official Bank Rate, and its votes on May 5 at 14:00 MT.
The Reserve Bank of Australia will make the cash rate statement on May 3, at 07:30 MT.
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.
The Australian Bureau of Statistics will announce the updated Unemployment Rate and Employment Change data on Thursday, May 19, at 04:30 MT.
The UK Office for National Statistics will publish Consumer Price Index (CPI) data on Wednesday, May 18, at 09:00 MT.
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