
Now traders follow the economic events with new vision as inflation in the US seems like decreasing. Let’s see what releases will influence the market due to that factor.
Don’t waste your time – keep track of how NFP affects the US dollar!
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The United States will publish the non-farm employment change, also known as non-farm employment change or NFP at 15:30 MT time on March 6.
Instruments to trade: EUR/USD, USD/JPY, GBP/USD
The indicator represents the change in the number of employed people during the previous month excluding the farming industry. Traders pay huge attention to it, as it makes the US dollar highly volatile after the release. It’s worth mentioning that it comes out at the same time with the level of average hourly earnings and the unemployment rate. The previous release contained mixed data. While NFP showed an increase of 225K jobs (vs. the forecast of 163K), average hourly earnings came out lower than analysts’ expectations (0.2% vs. 0.3% expected). At the same time, the unemployment rate reached 3.6% (vs. the forecast of 3.5%). As a result, the reaction of the USD was limited.
• If the NFP and average hourly earnings are higher and the unemployment rate is lower than the forecasts, the USD will rise;
• If the NFP and average hourly earnings are lower and the unemployment rate is higher than the forecasts, the USD will fall.
Now traders follow the economic events with new vision as inflation in the US seems like decreasing. Let’s see what releases will influence the market due to that factor.
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