During today's press conference, the ECB president said that the data was "somewhat" better than the expectations in the first quarter. T
US Nonfarm Payrolls
US nonfarm payrolls are one of the most important economic indicators. A change in the number of employed people affects the consumer spending volume and as a result, expresses the economic health. That’s why the market always pays a high attention to this data.
The US labor market figure will be out at 15:30 MT time on August 3. Notice that it is not the only release that will come out at this time. It will be accompanied by the publication of Average Hourly Earnings and Unemployment Rate. As for average earnings, the higher is its growth, the better for the USD. The situation is opposite to the unemployment rate. The USD strengthens when the unemployment rate declines.
The feature of the indicator is that it’s very difficult to forecast the actual data. As a result, NFP always causes high volatility in the market.
• If the data is greater than the forecast, the USD will rise.
• If the data is weaker than the forecast, the USD will go down.
Check the economic calendar
Australia will release the level of employment change and unemployment rate on June 13, at 4:30 MT time.
The level of non-farm payrolls, also known as non-farm employment change or NFP will be out on June 7, at 15:30 MT time.
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