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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
On Wednesday, the evergreen buck rose to its highest value for over a year because a crisis in the Turkish lira, which affected emerging markets, drove demand for the US dollar as a safe-haven asset…
On Tuesday, the common currency kept to a one-year minimum versus the evergreen buck and the Swiss franc…
On Monday, the evergreen buck managed to rally versus its rivals, although profits were tamed because the common currency went down from a 13-month minimum notwithstanding another rout in Turkey’s currency…
In February, Japan's exports probably ascended at the fastest pace for two years due to a softer yen as well as improving global demand, as a Reuters survey showed on Friday…
On Monday, stocks in Asia declined with markets in Japan unavailable for a holiday and traders watching oilfield-related stocks after a bankruptcy filing by Singapore's Ezra Holdings…
On Friday, the evergreen buck added against the Japanese yen and euro, drifting away from recent minimums, though revenues were capped as traders focused on a showdown between Donald Trump and members of his own party as for a fresh healthcare bill…
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