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The market awaits NFP

FBS

The level of non-farm payrolls (NFP), also known as non-farm employment change will be published on September 6, at 15:30 MT time.

NFP shows the change in the number of employed people during the previous month (without farmers). The indicator is followed by the releases of average hourly earnings and unemployment rate. All of them are important as the Fed usually take them into account while considering its future rate decisions. Moreover, the US dollar tends to get volatile after the release. Last time, non-farm payrolls came out in line with the forecast of 164 thousand. At the same time, the level of average hourly earnings beat the estimates with an increase by +0.3%, but unemployment rate disappointed with a rise to 3.7%. The USD was supported in a short term, but bulls could not hold their positions. This time we may see a different outcome.

• If NFP is higher than the forecasts, the USD will rise;

• If NFP is lower than the forecasts, the USD will fall.

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Source: https://fbs.com/analytics/news/the-market-awaits-nfp-5967
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