Don’t waste your time – keep track of how NFP affects the US dollar!

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Big day for USD

Big day for USD

Information is not investment advice

The US NFP will be published on August 7 at 15:30 MT time.

Instruments to trade: EUR/USD, USD/JPY, GBP/USD

Needless to say, the NFP is the most important economic indicator for all traders. It’s a widely awaited event because it creates the huge market volatility. Therefore, traders have a quite rare opportunity to see really enormous price movements. Non-farm payrolls reveal a change in the number of employed people during the previous month, excluding the farming industry. The employment slumped by a total of 22.2 million in April and March. Indeed, the USA was suffering from the worst time of the coronavirus pandemic. These days the labor market is gradually bouncing back, but it will take a lot of time to reach a full recovery. Moreover, the number of new virus cases in the country is still increasing at the record pace. That’s why it’s almost impossible to predict what the NFP will be this time. Catch the market movement!

  • If the NFP is better than expected, the USD will surge.
  • If the NFP is worse than expected, the USD will fall.

Check the economic calendar

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