US Non Farm Payrolls and Unemployment Rate due at 13:30 GMT this Friday
Get Ready for Friday’s NFP. Will Friday’s NFP Move The Markets?
Friday 8th December sees the release of the all-important US Non Farm Payrolls and Unemployment Rate due at 13:30 GMT which are expected to create high volatility in the markets.
This important announcement may be considered one of the leading economic indicators that tends to create strong market movements just before and after the release.
According to the economic calendars, this week’s NFP release is expected to show that 200K jobs were created in November compared with 261K in October, highlighting a slight fall but nevertheless resilient labour market.
The Unemployment Rate meanwhile is forecast to come in at 4.1%, the same as October’s figures. If Friday’s data exceeds expectations, this will likely result in USD strengthening. Conversely, a poor reading will most likely see the USD come under downward pressure.
What to watch out for
During any NFP announcement, expect high volatility, especially across USD pairs. Higher NFP and lower Unemployment Rate figures than those registered for the previous month are usually positive for both the US economy and the dollar