NFP and US data release this Friday!
The US Non-Farm Payrolls will be released this Friday at 13.30 GMT (15.30 on your MT4 Platform).
Historically, this is the most “market-moving” economic data released each month. As a result there may be periods of extreme volatility shortly before and after the release.
So, what to expect this time?
The forecast is for nonfarm payrolls to have risen by 185k, more than the somewhat disappointing 98k in March.
The unemployment rate is forecast to have ticked up, while average hourly earnings are expected to have accelerated slightly in monthly terms.
This looks like another solid report overall, which could amplify speculation regarding a June rate hike by the Fed and thereby support the dollar.
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US nonfarm payrolls will be released at 15:30 MT time.
Many traders wait for this release to come with bated breath as this indicator is closely monitored by the Federal Reserve’s officials who are responsible for making interest rate decisions.
NFP is released together with unemployment rate and average hourly earnings.
The cumulative effect on the USD upon the publication of these data is great. In March NFP growth slowed to 98K.
At the same time, the unemployment rate dipped to 4.5% which is consistent with the Fed’s long-term projections.
Wage growth was in line with market expectations. Overall, the report was solid enough not to dissuade the Fed from its current rate hiking cycle.
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