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  • Is It All Doom & Gloom for Today’s NFP?

Is It All Doom & Gloom for Today’s NFP?

We have all become a little accustomed to seeing strong growth in US jobs in recent months, as the rest of the world has, this month however, is expected to show market contraction.

According to the White House Press Secretary Jen Psaki, a full 9M people called in sick due to Omicron infections in the week the NFP survey was conducted. Psaki went on to warn that the jobs report may even show outright job losses for the first time since December 2020.

A weaker-than-expected NFP report would reinforce the recent USD selloff. It works through two channels: rates and risk. Risk sentiment would likely welcome easier financial conditions, especially if Omicron explains the growth weakness.

With gold’s fortune still tied to the US dollar and underlying US interest rates, anything that can move these markets, however short the timeframe, will need to be closely followed.

At 10.00 GMT+2, the US Dollar Index (DXY) is currently down at 95.25 and Gold Spot US Dollar is up at 1,807.56.

Be ready for today’s main event at 15.30 GMT+2!

If you have any questions, please email our Education Centre.

If you have any questions or require any assistance, please contact one of our support team members via our Live Chat or email [email protected].

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To find out more about Errante, visit https://errante.eu.

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Notely Trading Limited is an Investment Firm authorized and regulated by the Cyprus Securities and Exchange Commission (CySec) under license number 383/20, registration number HE394425 and with registered office at 30 Karpenisiou, 1077 Nicosia, Cyprus. The Company is governed by the Markets of Financial Instruments Directive (MiFID II) of the European Union.

The website (www.errante.eu) is operated by Notely Trading Ltd.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 33.33% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Read our Risk Disclosure.

Errante brand is authorised and regulated in other jurisdictions:

Errante Securities (Seychelles) Ltd (https://errante.com/) is regulated by the Seychelles Financial Services Authority (FSA) under license number SD038.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 33.33% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.Read our Risk Disclosure.

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