Non Farm Payrolls Alert

The U.S Non Farm Payrolls will be released Friday, 6th of July 2018 12:30 and is a key economic indicator that can cause volatility in the markets.

What to Expect this Month:

On Friday the Non Farm report will be released and the US economy had been expected to report a month of growth with around 195K new jobs added, but data leading up to the report suggests that the final figure could be weaker.

This week’s data has shown that job cuts by US-based employers rose 18%, from 31,517 in May to 37,202 during June, while private sectors added 177K new jobs in June, missing expectations of 195K and jobless claims have risen to 231K for the week ended June 30, well above the 225K expected.

This has lead to the EUR/USD nearing its key resistance at 1.1720 level and a worse than expected Non Farm Payroll will likely accelerate the positive momentum, this coupled with a hawkish stance from the ECB suggests that a European Central Bank could implement a rate hike earlier than expected. There is a heavy day of US data on Friday so the markets are expected to be volatile.

Opportunities around the NFP Reports:
Regardless of the results of the Non Farm Payrolls, the markets always experience moves immediately after the release which offer traders excellent short-term trading opportunities. Positive or negative reports will affect market sentiment which can create new trends and trading opportunities.

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