Today on March 9th Friday, US Job data will be released and the markets are focusing on the event.

1. US Employment Report for February, will be released on Friday at 13:30 (GMT) and is expected to cause increased volatility to USD crosses.
2. Non-Farm Payrolls figure: Expected 200k, previous figure 200k.
3. US Unemployment rate: Expected at 4.0%, previous reading 4.1%.
4. US Average Earnings increase rate: Expected at 2.8% on a year on year basis, previous respective reading 2.9%.

Please be advised, that last month’s report created some market turbulence and dollar prices were influenced heavily (EUR/USD dropped by around 280 pips) for a period of about 5 days.

The turbulence was caused by the substantial increase in average earnings.

Hence as the NFP figure is forecasted to remain at the same levels and the unemployment rate is expected to tick down the Average Earnings growth rate could attract a high level of attention.

Average earning’s ticking down may not influence the market as it still indicates a strong average earnings growth rate.

Overall, the report is indicative of further labor market tightening which in its turn, in conjunction with one of the strongest GDP growth rates for Q4 in the past years, confirms the argument for further rate hikes by the Fed.

Should the actual results meet the forecast, we could see the USD strengthening.

The Employment Report is announced on a monthly basis every first Friday of the month.

It consists of a basket of employment reports such as the Unemployment rate, Average Hourly Earnings, and the Non-Farm Payrolls report. The Non-Farm Payrolls report is a highly significant event and one of the biggest market movers in the Forex markets.