Non-farm payrolls are coming up on Friday. As a key economic indicator, it often leads to significant movements.
The NFP is always a highly anticipated release. It shows the change in the number of employed people in the US from month to month, not including the farming sector. It’s commonly regarded as an indicator of the health of the US economy, and that means it has an impact on the dollar and wider markets.
If the NFP is higher than expected, stocks and the dollar often make gains, while a lower figure can mean the opposite.
Don’t miss it. The NFP is due on Friday.
- The headline NFP is expected to be weaker for the third month running, which might suggest losses for the dollar and gains for gold.
- The Fed will probably maintain rates for at least several months before starting to cut; this week’s NFP is unlikely to change that impression unless it’s extremely divergent from the consensus.
- Usually, volatility and activity in markets start to pick up again from late August and early September, so this job report could bring more activity than in August.
- M15’s ATR for gold last month peaked at a fresh post-NFP low for 2023 of $3.20. It’s likely to be at least slightly higher this time.
Are you ready to trade the NFP?
The response to the NFP can sometimes cause market volatility. We suggest you fund your account in advance of the release so you’re ready to trade any opportunities that arise.
