Canada will release the employment change and the unemployment rate on October 9, at 15:30 MT time.
NFP: an opportunity for the USD?
Information is not investment advice
The level of non-farm payrolls, also known as non-farm employment change or NFP is expected at 15:30 MT time on October 4.
The indicator represents the change in the number of employed people during the previous month without farmers. Traders pay huge attention to it, as it makes the US dollar highly volatile after the release. Also, we recommend you not to underestimate the unemployment rate and the level of average hourly earnings. These indicators are released at the same time as the non-farm payrolls and they tend to affect the USD as well. The previous release of jobs data disappointed the market. Despite a higher-than-expected level of average hourly earnings (0.4% vs. %0.3 expected), the level of NFP declined by 130 thousand jobs. It resulted in mixed trading of the USD. This time it may lead to a different outcome.
• If the NFP is higher than the expectations, the USD will rise;
• If the NFP is lower than the expectations, the USD will fall.
The Reserve Bank of Australia will post a rate statement, which contains an update on the interest rate on October 6, at 6:30 MT time.
Canada will announce its monthly GDP on July 31, at 15:30 MT time.
Find out the reasons!
The market sentiment deteriorated because of the election uncertainty and worries about rising virus cases all over the world. Let's make some analysis!
The focus of traders’ attention shifted from Brexit and the US stimulus to the coronavirus . The WHO claimed that Europe become the new Covid-19 epicenter.