The U.S Non-Farm Payrolls will be released Friday, 08th May, 2020 12:30 GMT and is a key economic indicator that can cause volatility in the markets.
What to Expect this Month?
This Friday’s non-farm payrolls report form the US is expected to be the worst ever recorded. Economists believe that an estimated 22 million jobs were lost in the month of April, which in turn would mean that the unemployment rate is likely to reach up to 16%, which would be the highest level since the 1938 recession.
The collapse of the American labour market is not a surprise as many of the world’s economies struggle to cope with the coronavirus outbreak. More than 33 million people in the United States have been laid off in recent weeks, however this impact has already been priced in to the markets.
Persistent selling of USD/JPY recently suggests that the markets are positioned for a weak report, yet higher than expected job losses could still drive USD/JPY lower. Equities and 10 year Treasury yields are near 1 month highs which suggests that investors are either looking past April data or aren’t prepared for a weak release, however it’s possible that a weaker than expected report may send equities tumbling lower.
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.
Copy trades and benefit from projected month gains of +41.8%
IMPORTANT: Please be reminded to review the trading hour changes for May 2020 due to upcoming holidays: https://www.yadix.com/documents/May-2020-Trading-Schedule.pdf
Please be reminded that now its the time to claim your April 2020 monthly rebates!
To claim your rebates simply send us an email in between the 1st and 6rd of each month. Please include your MT4 account number and the number of lots that you have traded.
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We are available on WhatsApp +447585424285, so feel free to add us, or email us back so we can find the perfect program for you!
Wishing you successful trading,
David Bergman
Account Manager
Yadix Forex Broker
WhatsApp: +447585424285
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E-mail: support@yadix.com
Skype: yadix.forex
