NFP August 2, 2019 at 13:00 (GMT). Are you ready to trade?

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What to expect from NFP release? Hello, Trader FX   The U.S. Nonfarm Payrolls and Unemployment Rate are out tomorrow,  August 2, 2019, at 13:00 UK Time (GMT) and expected to cause significant volatility in the markets. On the first Friday of the first month of the new year, the attention of traders will be directed to a fresh package of US fundamental data on the labor market. An economic indicator that tends to trigger sharp market movements in the minutes leading up to its release and afterwards, the NFP is released by the U.S. Department of Labor on the first Friday of each month, outlining changes in the number of employees, excluding farm workers and those employed by the government, non-profit organisations and private households. Go to Cabinet What to expect this month: NonFarm Payrolls Last data: 224K Consensus forecast: 165K    The current week has been eventful. In the first half of the week, the next round of trade negotiations between the USA and China started in Beijing, the very fact of which has already supported the American dollar. On Wednesday, the results of the two-day Fed meeting were published, as a result of which the American regulator lowered the rate by 25 basis points, as expected, while avoiding harsh statements and thereby supporting the national currency.    And as the final point of this trading week, on Friday will be presented the main report on the US labor market. We assume that the number of new jobs will be about 165K, which is certainly lower than the previous figure of 224K. However, taking into account the more or less stable dynamics of this indicator, the US dollar is unlikely to be under pressure, even if this forecast will not be justified.    If the forecast is justified or the numbers exceed it, then traders should expect a moderate increase in USD relative to its main competitors. Average Hourly Earnings Last data: 0.2% Consensus forecast: 0.2%    The average hourly earnings growth rate is likely to remain at the same, and quite good level of 0.2%. Having reached this, the indicator feels quite comfortable considering the cumulative impact on it of good numbers on NFP and low unemployment rate in the country.    If this forecast is justified, it will help strengthen the US dollar. Unemployment Rate Last data: 3.7% Consensus forecast: 3.6%    In his speech this week, US President Donald Trump stated that the national economy is in a prosperous state, and the present time can be called historically the most favorable for young Americans in terms of employment.     In general, the unemployment rate in the United States is confidently moving to the lowest level in the last 50 years, and the growth of the national economy is the longest in the entire history of observations.     It is difficult to disagree with the American leader, especially considering the fact that the unemployment rate in the country can again fall to record levels of 3.6%.    If this forecast is justified, it can lead to a significant strengthening of the US currency. To keep your open positions and survive during the time of market volatility due to news release, make sure you have enough funds in your account. Deposit Funds Keep in mind: During the NFP announcement, expect high volatility, especially across USD pairs. Market sentiment can really affect currency movements. What traders expect from the report has as much impact as the actual released data, if not greater. A higher figure than the one registered during the previous month signifies an improvement in employment numbers. This, as well as the release of a higher-than-expected figure, means an increase in the number of jobs created and are positive for both the U.S. economy and the dollar. A lower figure than the one registered during the previous month, as well as a lower-than-expected figure, usually have a negative impact on the dollar as they demonstrate a drop in employment numbers. Remember that the sudden spike observed across the charts of many currency pairs upon the release of the NFPs is usually followed by a period during which the market tries to recover and return to its initial price levels. Please do not hesitate to contact us  with any questions in livechat   or e-mail us at support@paxforex.com Risk Warning:Forex and CFD trading carry a high degree of risk. As such they may not be suitable for all investors. Investors should ensure they fully understand the risks associated with CFD trading before deciding to trade. Investors may choose to seek independent advice and should not risk more than they are prepared to lose.

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