The U.S Non-Farm Payrolls will be released Friday, 03rd April, 2020 12:30 GMT and is a key economic indicator that can cause volatility in the markets.
Tension are mounting as we head towards the US Non-Farm Payrolls. Economists expect the jobs data to show a loss of only 100,000 jobs, the first decline in jobs since September 2010. These figures will not include the impact from the latest lock-downs, as data is taken until 12th March.
The real up-to-date figures of unemployment claims for the week ending 28th March are worse than expectations, growing to 6.648 million, Furthermore, many states are struggling to process the volumes of requests. It looks like the impact of the coronavirus Is taking its toll and the damage to the economy is serious.
The drop in payrolls will be far worse in April, almost certainly exceeding the largest monthly loss recorded during the financial crisis, which was 800,000 in March 2009. The markets have also been alerted since President Trump warned on Tuesday that a painful two weeks ahead in fighting the coronavirus, with even with strict social distancing measures.
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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