Prepare for market reactions to Friday’s NFP release.
As you know, the first Friday every month signifies the release of the Nonfarm Payroll.
This is one of the most anticipated financial releases and is used as a gauge of economic health in the United States.
Generally, a high reading is seen as positive (or bullish) for the USD, while a low reading is seen as negative (or bearish).
Friday’s NFP release is expected to show that the U.S. added 191K jobs in August, an increase from 157K jobs in July.
August’s Unemployment Rate is expected again at 3.9%, Average Hourly Earnings (MoM) are expected to increase by 0.3% again.
As well as impacting the value of the U.S. Dollar, the release can also impact the stock market and the price of gold.
Should you wish to trade, you may want to take a position before Friday’s announcement.
**According to HYCM Pricing feed.