NFP December 6, 2019 at 13:00 (GMT). Are you ready to trade?

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What to expect from NFP release? Hello, Trader FX   This Friday, traders will focus on labor statistics from the USA. Employment in the non-agricultural sector (NonFarm Payrolls), Average Hourly Earnings, as well as the Unemployment Rate will determine the future direction of the US dollar. Go to Cabinet What to expect this month: NonFarm Payrolls Last data: 128K Consensus forecast: 180K We predict that the number of people employed in the United States recovered in November after falling in the previous month and will be about 180K. This will increase the number of jobs from 128K in October, when tens of thousands of workers were temporarily considered unemployed due to strikes at General Motors factories. Since the conflict with the trade unions was settled, we can expect a corresponding recovery of the indicator. If the forecast is true, then traders should expect a moderate increase in the exchange rate of the American currency against its all major competitors. Average Hourly Earnings Last data: 0.2% Consensus forecast: 0.3% Average hourly earnings growth is likely to increase to 0.3%. Despite the ongoing conflict with China, this factor has virtually no effect on the economic condition of the United States. Even the recent disappointing figures of ISM, which demonstrates business optimism in the manufacturing sector, are unlikely to affect wage data, where, based on Department of Labor releases, we expect a slight increase to 0.3%. If this forecast comes true, it will contribute to the growth of the US dollar. Unemployment Rate Last data: 3.6% Consensus forecast: 3.6% We believe that the US unemployment rate will remain at the same, a record low level of 3.6%. President Trump personally publishes on Twitter each report on unemployment level, which shows its importance and priority for the current administration. In addition, the cessation of strikes at General Motors factories will certainly support the current level of this indicator. If this forecast is true, it can lead to a fairly strong strengthening of the US dollar. 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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