Fundamental Analysis: US Nonfarm Payrolls
Traders of the USD await the publication of the Nonfarm Payrolls report due out tomorrow (Jan 8). The Nonfarm Payrolls measures the change in the number of employed people during the last month of all non-farming businesses. The total non-farm payroll accounts for approximately 80% of the workers who produce the entire gross domestic product of the United States. It is the single most important piece of data contained in the employment report, which considered to offer the best overview of the economy.
The monthly changes and the revisions in payrolls can be quite volatile.
A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD.
Analysts forecast a reading of 0.
(via Forexpros)
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