US Non-Farm Payrolls

US Non-Farm Payrolls

US nonfarm payrolls will be released at 15:30 MT time.

Many traders wait for this release to come with bated breath as this indicator is closely monitored by the Federal Reserve’s officials who are responsible for making interest rate decisions. NFP is released together with unemployment rate and average hourly earnings. The cumulative effect on the USD upon the publication of these data is great. In March NFP growth slowed to 98K. At the same time, the unemployment rate dipped to 4.5% which is consistent with the Fed’s long-term projections. Wage growth was in line with market expectations. Overall, the report was solid enough not to dissuade the Fed from its current rate hiking cycle.

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