NON-FARM PAYROLLS RELEASE ( NFP)

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 Hello traders, I hope your weekend was lit and lively. Mine was okay especially from the fact that NFP brought some nice market volatility that led to catching quite some valuable market moves. Non-farm payrolls (NFP) is a report released by the US. Bureau of Labor Statistics every first Friday of the month showing the change in jobs in the economy over the previous month that does not include farm workers, private household employees, or non-profit organizations. This is a very important news release for forex traders as it gives a lot of market volatility hence causing large moves in the markets. It also gives directional bias for the dollar index which in turn corresponds with all dollar pairs.

On Friday 2nd September, the US Bureau of Labor Statistics released the NFP report data which showed that total non farm payroll increased by 315,000 in August, the unemployment rate rose by 0.2% from the previous month to 3.7% and the number of unemployed persons increased by 344,000 to 6.0million. Notable job gains occurred in professional and business services, health care and retail trade. This caused the dollar index (DXY) to rally showing dollar strength, closing the week with price at 109.367.






 

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