NFP Friday & Will the Growth Continue?

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NFP Friday & Will the Growth Continue?

NFP Friday & Will the Growth Continue?

On Friday, March 10 at 15:30 GMT+2, the February jobs report will be released by the US Bureau of Labor Statistics (BLS).

It is expected that Nonfarm Payrolls will decrease to 205K-225K after the 517K increase in January, according to experts. The Unemployment Rate, on the other hand, is anticipated to remain at 3.4%.

The expected rebound makes Friday’s Nonfarm Payrolls event a crucial factor in determining the US interest rate, and consequently, it will have a considerable impact on market sentiment.

Opportunities on US crosses and Gold!

Strong NFP numbers, indicating robust job growth, can lead to an increase in the US dollar’s value as it suggests a healthy economy. This is because a strong labour market can lead to higher inflation, which could prompt the Federal Reserve to raise interest rates. Higher interest rates make a currency more attractive to investors seeking higher returns, leading to an appreciation in its value. On the other hand, weak NFP numbers can lead to a decrease in the US dollar’s value as it indicates a weak economy.

Gold, on the other hand, is often seen as a safe-haven asset that investors turn to during times of economic uncertainty. If the NFP report shows weak job growth or a high unemployment rate, it could lead to a decline in the US dollar’s value and an increase in the price of gold.

Friday 10^th March High Impact Events

The times below are GMT+2

Tentative – Japan – Monetary Policy Statement, BOJ Press Conference
Potential instruments to Trade: JPY Crosses. 
09.00 – UK – GDP m/m
Potential instruments to Trade: GBP Crosses. 
15.30 – US – Average Hourly Earnings m/m, Non-Farm Employment Change, Unemployment Rate

Potential instruments to Trade: USD Crosses. 

15.30 – Canada – Employment Change, Unemployment Rate

Potential instruments to Trade: CAD Crosses. 

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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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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