US Non-Farm Payrolls
US nonfarm payrolls (NFP) will be published at 03:30 p.m. MT time. All traders closely watch this report to get some clues on the pace of the Federal Reserve’s rate hikes. Strong labor market makes the Fed’s officials feel more confident about raising the federal funds rate and, consequently, is bullish for the US dollar. Ion the other hand, if an actual reading comes below expectations, the impact on the US currency will be negative. Along with NFP the US Department of Labor will release unemployment rate and average hourly earnings data that may cast a shadow on the key NFP report. Overall, the US labor market report causes a spike in the FX market activity, especially in the pairs containing USD.