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

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High volatility alert: NFP

High volatility alert: NFP

Updated

What will happen?

The United States will post the indicators of employment on April 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. The US dollar reacts greatly to this data.  Don’t downplay the importance of the other two indicators, though. Combined, they represent a significant fuel to the US currency. Last time, non-farm payrolls greatly outperformed the forecasts with an increase of 379K. The unemployment rate dropped to 6.2%. The only release that came out in line with the forecasts was the average hourly earnings. As a result, the USD strengthened.  

How to trade on the NFP?

There are different ways for taking advantage out of the NFP release. 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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