Tension Rises Among Investors Towards Non Farm Payrolls(NFP)

Today at 12:30 GMT+00:00 Non Farm Payroll is taking place on the financial market. This is one of the most anticipated financial releases. In general, it is used as a gauge of economic health in the United States.

Currently, investors have taken a wait-and-see attitude before the publication of the US labor market report for October on Friday, November 01. Dollar already seems to be defeated. These statistics may affect the Fed’s views on further monetary policy adjustments.
Recent reports from the US were ambiguous. Preliminary data from ADP indicated an increase in the number of people employed in the nonfarm sector of the country by 125K, which is higher than the forecasted value of 120K. At the same time, the consumer confidence index slowed down to 125.9 compared to market expectations at 128.0. Over the past week, initial jobless claims have increased from 213K to 218K.

Experts expect a deterioration in key indicators of the labor market: the number of people employed in the US nonfarm sector will slow down from 136K to 89K; the growth of the average hourly earnings will be 0.3% (m/m) in comparison to the previous value of 0.4% (m/m); the unemployment rate will increase to 3.6%. We recommend paying attention to the difference between the actual and forecasted values of the indicators.

All The Best, Before you proceed to trade the NFP please check out this Lesson Also VERY IMPORTANT
Non Farm Payrolls Trading | Tips Every Trader Needs To Know.

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