Good morning, cyprusthrivers! It’s been a while since we last spoke about the non-farm payroll. Well, today is NFP Day.
One more hour to go until the US Bureau of Labor Statistics releases the 3rd non-farm payroll report of this year.
Last month’s number of new jobs entering the American workforce market exceeded analysts’ expectations for a second month in a row. With a drop of 4.7% in the unemployment rate, prospects look promising in point of new employment opportunities in the US.
Briefing – NFP release as at 10 March 2017:
Number of new jobs created in February:
However, despite this positive trend in the labour market, the greenback depreciated. Some traders may have been taken by surprise by this unusual reaction. In response to a positive economic outlook, the dollar strengthened in the advent of the release. Chances are pretty high that traders closed their ‘buy’ USD positions when the positive figures were released to secure their profits, which triggered the currency’s depreciation.
For March, the forecast of new jobs in the US points to 178k.
If you want to profit from this unique opportunity, make sure your account is well funded and get ready to roll the ball. Alternatively, if you haven’t opened an account yet, then it’s high time you did it. Remember, opportunity is not the postman to ring the doorbell twice! The time is now. Register now and start trading!