At FOREXYARD we encourage our customers to be prepared for major market events. As such, you should know that the US Non-Farm Payrolls (NFP) is scheduled to be released on Friday at 13:30 GMT. The NFP is considered one of the most important economic indicators and typically results in major market volatility with the potential to effect currencies, commodities and CFD’s.
While many investors remain focused on the European debt crisis, the jobs report will likely be the highlight of the trading day. While the US economy has seen some setbacks in recent weeks, a positive jobs report on Friday is likely to boost investor confidence in the American economic recovery.
Analysts are predicting that the US added 156K jobs in January. If the figure comes in at or above 156K, investors may decide to bet on riskier assets, like the EUR, GBP and crude oil. On the other hand, if the NFP figure comes in below 156K, investors may place their funds with safe haven assets, which may give currencies like the USD and JPY an opportunity to recoup some of their recent losses. Either way, forex traders can be sure that Friday will be an exceptional day in the markets.
© 2006 by FxYard Ltd
Disclaimer: Trading Foreign Exchange carries a high level of risk and may not be suitable for all investors. There is a possibility that you could sustain a loss of all of your investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with Foreign Exchange trading.