Non-Farm Employment Change out later
Source: ACFX Forex Broker
Today at 1:30pm London time the U.S. Bureau of Labor Statistics will release the Non-Farm Employment Change.This statistic measures the change in the number of employed people during the previous month, excluding the farming industry.Moreover, this crucial economic data is published shortly after the end of the month. The combination of earliness and importance causes this monthly release to have high impact on the foreign exchange markets.The traders’ concerns about this figure come from the fact that job creation is a significant indicator of consumer spending, which accounts for a major part of overall economic activity.
The oscillations in the value of the indicator, which has been positive since November 2010, suggested tendency towards higher values during the second half of 2014 and 2015.The last released statistic reached 280,000 individuals whereas the consensus number for the last month amounts to 231,000. If the actual figure turns out to be higher than what forecasts suggest, this release is likely to have a positive impact on the strength of the U.S. dollar.Since Non-Farm Employment Change Report will be made public at the same time as data on U.S. monthly unemployment rate, USD currency pairs might experience higher volatility.
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