In trading, it is important to keep an eye on the NFP dates calendar to stay ahead of the market. This important data is released on the first Friday of each month. The report is published by the US Bureau of Labor Statistics. It shows how many people are in paid employment. It excludes farm workers and employees of nonprofit organizations.
What Is NFP Date Calender?
This news release will give investors a general idea of the health of the economy. A stronger US economy means that the USD will strengthen. If the US dollar is over-bought, it will push down the large US stock indices. In addition, the number of workers in the private sector will help predict consumer spending. The Federal Reserve closely monitors this data.
The NFP report releases at 8:30am ET. This news will cause a strong reaction in the forex market. The GBP/USD currency pair will be the most affected by the report. Other assets like stocks and commodities will also be affected by the news. The key approach for traders is to watch for the reaction to the news before entering a trade. This reaction will usually last for 15 minutes or so. From there, traders can implement the appropriate trading strategy.
Check NFP Dates Before Trading
The nfp dates calendar is one of the most important economic events of the month. The report shows the number of jobs created in the non-agricultural sector in the US over the past month. It can be a great indicator of the overall health of the economy and can cause huge movements in the market. Moreover, it is always important to set a margin level for your demo account, as it can help you win big or suffer heavy losses.
The Nonfarm Payrolls report is released on the first Friday of every month. This report is important for trading, and can be used with a 5-minute chart interval. A higher number indicates an expansion while a lower number suggests a contraction. However, a lower number can indicate broader concerns for the economy. For foreign exchange trading, the NFP report is a key economic indicator and can trigger a trade.
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What’s Next?
While the ECB has many tools in its arsenal to keep inflation from increasing, interest rates are the primary tool the central bank has to help slow down inflation.The European Central Bank is widely expected to hike interest rates by at least 64 basis points in September. This would cap a decade of record low rates that started during the global financial crisis in 2008.
