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

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A Grand Day for the USD

A Grand Day for the USD

Updated

What will happen?

The United States will post the indicators of employment on July 2, at 15:30 MT time. You will get an opportunity to trade on the average hourly earnings, the unemployment rate, and, of course, on the non-farm payrolls (NFP). The last indicator tends to be the most important one. It represents the change in the number of employed people during the previous month without the farming industry. Last time, the data was mixed. Despite expectations of +645K, non-farm employment change rose by 559K. At the same time, the unemployment rate dropped to 5.8%, and average hourly earnings advanced by 0.5%. Still, traders were disappointed by non-farm payrolls, and the USD plunged.   

How to trade on the NFP?

Pay attention to the economic calendar.

  • If the NFP is greater than the forecasts, the USD will rise;
  • In case of an alternative scenario, expect a fall of the USD.

Check the economic calendar

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

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