That time of the month is approaching! It’s time for the Non-Farm Payrolls (NFP) report! So get ready to trade the most anticipated jobs report of the month!The NFP announcement out of the United States is considered the most closely watched economic news release. It always impacts the US Dollar and cause significant swings in all currencies relating to the USD, don’t miss your chance to trade this report, however please exercise extreme caution as the market swings can be volatile.
This employment report is released on the first Friday of every month by the Bureau of Labour Statistics; it is considered a lagging indicator since it provides insight into the previous month’s unemployment, job growth and payroll data.The NFP report represents the total number of paid U.S. workers of any business, excluding general government employees, private household employees, employees of non-profit organizations that provide assistance to individuals, and farm employees. The reason it is so closely watched and important is because it helps identify the rate of economic growth and inflation with regards to the US economy.
Keep in mind that there are many different parties watching this report and interpreting it, so even when the number comes in line with the forecasted estimates, it can still cause large rate swings.
These swings cause a favourable environment for active traders; this is because it provides a near guarantee of a tradable move following the announcement. If the actual figures are higher than the forecasted it is good for the economy and should cause the USD to strengthen against all pairs and vice versa if the number is far below the estimates.
At BCFX/FINFX we provide a stable and safe trading environment during the volatile market moves following the release of the NFP report. Hence our traders can rest assured their trades will be filled to take advantage of potential profitable trades.The NFP report will be released on Friday the 2nd of October at 15:30 pm New York time. Don’t miss the opportunity to trade the most exciting news release of the month. Always exercise extreme caution and sound risk management.
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