Get ready for the most important event of the month.
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This article is originally referred from AvaTrade News.
Get ready for the highly anticipated event:
US Nonfarm Payrolls (NFP) on Friday, February 2nd, 2018 at 13:30 GMT
A full year has passed since the inauguration of Donald J. Trump as 45th President of the United States.
What has changed? Investors are anxiously awaiting the upcoming NFP to find out.
This month’s NFP will be accompanied by the all-important unemployment Rate and the Average Hourly Earnings data.
Expectations on NFP data release
The job market is near to full employment (previous unemployment 4.1%, forecast 4.1%) and salaries are growing (previous 0.3%, forecast 0.3%).
Nonetheless, last month the US NFP has missed expectations (190K), with the US economy creating only 148K new jobs.
This month, the consensus anticipates a reading of 178K.
What do you think?
Will the growth of the US economy prove to be sustainable? Or will the NFP disappoint again and cause the USD to drop further?
What to look at before Trading NFP
Nonfarm Payrolls measures the change in the number of people employed during the previous month (excluding the seasonal farming industry).
Job creation is the key indicator of consumer spending.
Nonetheless, savvy traders are not totally in the dark, as they can take cues from the ADP National Employment Report, which is published two days before the official figures of the Bureau of Labor Statistics.
The ADP National Employment Report is a measure of the monthly change in non-farm, private employment, based on the payroll data of approximately 400,000 US business clients.
The release is a good predictor of the government’s non-farm payroll report.
This month, ADP will report on Wednesday, January 31st. Stay tuned!
Original Source: AvaTrade News