NFP Friday 06/03/2020 at 1:30 pm. Are you ready to trade?

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What to expect from NFP release? Hello, Trader FX The U.S. Non-farm payrolls report (NFP) coming out this Friday on 06/03/2020 is in the focus of Forex traders as it will be one of the indicators of the impact of the coronavirus on the U.S. economy. Although the US Federal Reserve cut key interest rates by 50 basis points at once to support the country's economy, it does not cancel the risks that may negatively affect the economic stability. Go to Cabinet What to expect this month: Nonfarm Payrolls: 225K Consensus; 175K Previous  U.S. Unemployment Rate: 3.6% Consensus; 3.6% Previous The U.S. labor market remains a pillar of the U.S. economy, with more jobs created last month than expected. Non-farm employment rose by 225k in January compared to expectations of growth of 160k. Although the projected figures are slightly lower than the previous ones, this is not significant at the moment.  In case this forecast comes true, Forex traders should expect the US dollar to grow against its main competitors. The unemployment rate in the USA remains at a historically low level of 3.6%, although it is not the lowest. According to the FOMC statements, the virus epidemic does not threaten the U.S. economy, but the regulator cut interest rates in order to reinsure and support the economy.  In the last release of the data, the movement on the EUR/USD currency pair at the moment made 20 points. But it also caused a general mid-term movement of 194 points. The more interesting course of events took place on the asset, which closely correlates with the EUR/USD currency pair - gold. At the moment of publication, the asset prices rose by 122 points or $12 per ounce. 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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