US Non-Farm Payrolls
US nonfarm payrolls (NFP) will be released at 15:30 MT time.
Billions of traders wait for this release every month. The indicator will show how many jobs were created in the US during in February. The US Department of Labor will also publish unemployment rate and average hourly earnings. The Federal Reserve is closely monitoring these figures while making its monetary policy decisions. As a result, the release has a great impact on the US dollar in all currency pairs.
Traders are wondering about the Fed’s rate hike timing this year. How soon the US central bank raises rates largely depend on the strength of America’s labor market data. Last time NFP exceeded forecasts (227K vs. 170K expected), but earnings and unemployment rate disappointed.