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Friday, 4 December 2020

What You Need To know About NonFarm Payrolls Today The 4th December, 2020.


NonFarm Payrolls

NFP also called NonFarm Payrolls report measures the number of jobs add or lost in the US economy over the last month. Learn Forex trading in Cameroon with Cameroon Online School of Forex. Join us here https://chat.whatsapp.com/EeZ0JbkOX1BK5TpKTorkBi or contact 675421156.

Today we will see the last US non-farm payrolls of this year. Are you excited? This is your lucky chance to follow the change in the employment data of the biggest economy – be sure you are well prepared for it! 

The release is expected at 15:30 MT (GMT+2) time (13:30 CAT) . Keep in mind that there will be three indicators published at the same time: non-farm payrolls (NFP), an unemployment rate and average hourly earnings. 

This powerful combination tends to make the US currency volatile right after the announcement. According to the forecasts, the US economy added 480 000 jobs last month. 

At the same time, the unemployment rate is forecast to show yet another drop and reach 6.8%. The average hourly earnings are expected to rise by 0.1%.

Right now, the USD is swimming in the multi-year lows. Thus, the positive figures may be important for the USD bulls. 

Remember that higher NFP and lower unemployment rate will push the greenback up! The alternative scenario, however, will pull it down. Follow EUR/USD, GBP/USD, USD/JPY and gold to take the maximum advantage out of upcoming data!

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