2021-07-02 10:30:29
The first Friday of July is here! That means we are about to see a
new NFP release at 15:30 MT (GMT+3) time! Why is everyone so excited about this data? The reason is great and simple – it makes the US dollar extremely volatile!
What is NFP? Non-farm payrolls (NFP) show how many people were employed in the previous month, excluding those who work in the farming industry. It comes out together with two important indicators: the unemployment rate and average hourly earnings.
Combined, they represent a powerful fuel for the American currency. Last month, the actual figures of NFP came out at
+559K (below the estimates of +645K). It disappointed traders and weakened the US dollar against other currencies.
This time, as analysts expect non-farm payrolls to
rise by 700K, we may see a completely different picture! Remember, if the actual data is better than the forecasts, the USD will surge! An alternative scenario will pull the greenback down. We recommend you to consider
EUR/USD, USD/JPY, and GBP/USD for trading on this event!
Trade now https://bit.ly/34B2MEn
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