The NFP release for October is coming

 

The NFP release for October is coming On this Friday, at 14:30 MT time, a fresh NFP release will be out. NFP is one of the most significant economic indicators for traders. Its data reflects the US economy state and usually affects the USD. NFP is the number of jobs added to the US economy’s non-farm sector during the previous month. Generally, a high reading is seen as positive (or bullish) for the USD, while a low reading is seen as negative (or bearish). 5th November 14:30 MT time

NFP Analytical Forecast This week is crucial for the US dollar. After the policy statement of the Federal Reserve late on Wednesday, the Non-farm payrolls will be out on Friday. They will define the further movement of the USD — the most traded currency in the Forex market.

NON-FARM PAYROLLS Forecast: 450K Previous: 194K   UNEMPLOYMENT RATE Forecast: 4.7% Previous: 4.8%   AVERAGE HOURLY EARNINGS Forecast: 0.4% Previous: 0.6%

Non-farm payrolls show how many Americans were employed last month (in this case October). The more jobs were added, the better for the US economy and thus for the USD! Last time, the NFP report revealed that 194,000 Americans got a job in September. It marked the lowest level so far this year, which was well below the market expectations of 500,000. Notably, Non-farm employment has surged by 17.4 million since the coronavirus outbreak in April 2020 but still, it lacks 5 million jobs to return to the pre-pandemic level. Non-farm payrolls are released with two other important reports: unemployment rate, and average hourly earnings. If the NFP and average hourly earnings are higher than expected and the unemployment rate — lower, the US dollar will strengthen. Otherwise — weaken. Overall, this event offers a great opportunity to trade currency pairs, stocks, indices, and gold! Mark it in your calendar! Get ready for NFP release on November 5, 14:30 MT time Register to Get NFP Signal & Alert Instant