Non-farm payrolls are coming up on Friday. As a key economic indicator, it often leads to significant movements.
Dear Anshari Kurniawan,
The NFP is always a highly anticipated release. It shows the change in the number of employed people in the US from month to month, not including the farming sector. It's commonly regarded as an indicator of the health of the US economy, and that means it has an impact on the dollar and wider markets.
If the NFP is higher than expected, stocks and the dollar often make gains, while a lower figure can mean the opposite.
What to expect from this month's NFP
The upcoming NFP is once again likely to show a higher figure than the consensus after very many months of low projections.
If this is accurate, there might be a boost for the dollar and fuel for gold's retracement.
More new jobs could reduce the chance of a cut by the Fed in July even further, but a significant change in the rate of unemployment is unlikely.
M15's ATR for gold peaked around $6.80 last month. Unless there's a big surprise higher or a surprise lower than the consensus, volatility might be somewhat lower this month.
Previous NFP
303,000
Expected NFP
243,000
Previous unemployment
3.8%
Expected unemployment
3.8%
Are you ready to trade the NFP? The response to the NFP can sometimes cause market volatility. We suggest you fund your account in advance of the release so you're ready to trade any opportunities that arise.
If you need any help funding your account, please contact our support team for assistance.
Trading during major economic events can be risky due to increased market volatility. This may result in wider spread and slippage. Be cautious, adjust your strategy, and monitor your positions closely.
Happy trading, The Exness Team
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