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 10th 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.  

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