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Get ready for the most anticipated event of the month.

US Nonfarm Payrolls (NFP) on Friday, March 9th, 2018 at 13:30 GMT.

Investors are sceptical about the US economy and are waiting for the upcoming NFP to find some common ground.

March NFP report will be accompanied by the all-important Unemployment Rate and the Average Hourly Earnings data.

The unemployment rate has hit a level of 4.1%. This is the lowest it has been in the past 17 years.

Salaries are growing at 0.3%, albeit lower than the Fed would like to see. Last month, the US Nonfarm Payrolls exceeded expectations (184K), with the US economy creating 200K new jobs.

This month, the consensus anticipates a reading of 204K.

What do you think?

Will the US economy continue to strengthen? Or will traders worry about the NFP and send the USD lower?

What is the NFP?

Nonfarm Payrolls (NFP) is a report issues by the US Bureau of Labor Statistics on the first Friday of every month.

This report measures the change in the number of people employed during the previous month, excluding the seasonal farming industry (thus NON farm).

Job creation is the foremost indicator of consumer spending, which together with the Average Hourly Earnings data will help the Fed to determine its monetary policy in relation to the inflation in the country.

The financial instruments most affected by the NFP data include the US dollar, equities and gold.

Will March employment data confirm the upward trajectory of the labour market? Stay tuned on Friday, March 9th!

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