HYCM, What to expect from October's NFP - Non Farm Payrolls

This article is originally referred from HYCM News.

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 October, an increase from 134K jobs in August.

October’s Unemployment Rate is expected at 3.8%, slightly up from previous 3.7%.

Average Hourly Earnings (MoM) are expected to increase by 0.2%, slightly down from last month’s 0.3%.

As well as impacting the value of the U.S. Dollar, the release can also impact the stock market and the price of gold.

Original Source: HYCM News