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.
US Nonfarm Payrolls
| Nonfarm payrolls or NFP is a monthly change in the number of employed people. It is the significant indicator of business health and, as a result, the whole economic activity in the United States. That is why traders pay high attention to it. The US dollar needs additional rate hikes this year, so a positive reading of the indicator will increase chances of the Federal Reserve raising interest rates. Look at an economic calendar at 15:30 MT time on May 4. If the data is positive, the US dollar will rise. |
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