Trade this news report live with DailyFX Currency Strategist John Kicklighter tomorrow morning: Trading US Non-Farm Payrolls
Arguments for an Improvement in Non-Farm Payrolls
dropped by 223,000 in April, compared to expectations for a rise in payrolls of more than 20,000.
Market participants will also keep an eye on Fed's policy meeting as well as the key non-farm payrolls
data next week.
US: Non-farm payrolls
In recent months, hiring has picked up in two major industries - retail trade and food services - that collectively account for 18% of employment.
January non-farm payrolls
surged 387,000, while the unemployment rate dropped to 4.
The median forecast in a Reuters poll for the government's non-farm payrolls
reading in April is an increase of 170,000 jobs, higher than 120,000 gain reported in March.
Trading the News: US Change in Non-Farm Payrolls
What's Expected Time of release: 07/02/2009 12:30 GMT, 08:30 EST Primary Pair Impact : EURUSD Expected: -363K Previous: -345K Impact the US NFP report had on EURUSD through the last 2 months Period Data Released Estimate Actual Pips Change (1 Hour post event ) Pips Change (End of Day post event) May 2009 06/05/2009 12:30 GMT -520K -345K -216 -280 Apr 2009 05/08/2009 12:30 GMT -600K -539K +13 +155 May 2009 US Change In Non-Farm Payrolls
October non-farm payrolls
rose 310,000, the unemployment rate dropped to 4.
This constrast makes a clear cut case for why the June release of non-farm payrolls
may post weaker or include revisions to previous figures.
fell significantly less than expected in May and at the slowest rate in eight months, but some perspective is clearly in order.
During the second quarter, the economy continued to gain momentum, with sustained above-trend growth in domestic demand and heady growth in non-farm payrolls
However, the greenback showed signs of turning higher this week, and with US non-farm payrolls
(NFPs) due to be released on Friday morning, the news may determine whether the US dollar will continue its losing trend or if risk aversion will help spark a true rebound in the currency.