NFP Friday – 5th May 2023

NFP Friday – 5th May 2023

The Nonfarm Payrolls (NFP) data will be released by the Bureau of Labour Statistics (BLS) this Friday at 15:30 GMT+3. The NFP release is expected to show job gains of 179,000 in April following the 236,000 increase recorded in March. 

The US Dollar (USD) has been struggling to find demand in the second half of the week with dovish Federal Reserve (Fed) bets dominating the financial markets. April jobs report is likely to trigger the next big action in the USD due to its potential impact on the Fed’s policy outlook.

With the US Dollar staying dangerously close to its weakest level against the Euro in nearly a year in the Fed aftermath, market participants will pay close attention to the labour market data to figure out whether EUR/USD could extend its rally.

On the other hand, a disappointing NFP print, close to 100K, should confirm a pause in the Fed’s tightening cycle and even revive expectations for a rate cut later in the year. The USD is likely to come under renewed bearish pressure in such a case and provide a boost to EUR/USD during the American trading hours on Friday.

Be ready at 15.30 GMT+3 for today’s NFP!

Please note that Monday, 8th May 2023 is a National Holiday in the UK to celebrate the King’s Coronation, this means that the UK Index will be closed.

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].

We are Errante. Trading made personal.

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.

Get started for free

Create Account
×

Search