NFP Friday 7th May 2021 – What to Expect

NFP – What to Expect Today 

The US Bureau of Labor Statistics is expected to announce an increase of 978,000 in Nonfarm Payrolls (NFP) in April following March’s impressive print of 916,000. The Unemployment Rate is seen edging lower to 5.8% from 6% with the Labor Force Participation Rate, which stood at 61.5% in March, likely improving as well on the back of easing coronavirus-related restrictions.  

EUR/USDis trading higher ahead of the US nonfarm payrolls (NFP) data. The US dollar has been on a decline amid an improving risk appetite. Since Wednesday, the greenback has been in decline triggered by the lower-than-expected US ADP employment report.  

If Nonfarm Payrolls somehow disappoint, then the US dollar could find itself in more trouble which would be expected to support the gold price and potentially lead to another bullish impulse.   

The NFP numbers will offer further cues on the inflation status. Several FOMC policymakers, including Chairman Jerome Powell, acknowledged that the job market is recovering at a stronger pace than expected but reiterated that significant slack remains in the economy.  

Be ready at 15.30 GMT+3, for today’s NFP figures. 

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].

Errante is the trading name used by Notely Trading Ltd, an Investment Firm authorized and regulated by the Cyprus Securities and Exchange Commission (CySec) under license number [383/20]. Errante is governed by the Markets of Financial Instruments Directive (MiFID II) of the European Union.

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

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72.50% 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