Who has any idea about NFP

[Enyah]

During my time of learning about forex trading, I was told that the Non Farmer Payroll is like the main event in trading where you make the highest gain ones every first Friday of the month, but I haven't gotten the clear picture of how's done or how to get the heads up on what to do next

 

[Suba]

NFP (non farm payrolls), describes the employment rate in the non-farm sector for a month in the United States. NFP is used as an indicator as well as the moment that forex traders have been waiting for. So the NFP will be published by the Bureau of Labor Statistics, on the first Friday of each month containing data for the previous month. I will try to explain in simpler language if you read high NFP data, the USD exchange rate will be stronger and vice versa. Or if the number of workers increases, there will be less unemployment so that per capita income will be higher and of course consumer spending will increase and vice versa if income is low, people's purchasing power will be smaller and will affect the direction of USD movement.

If you are going to use NFP data then you need to monitor major currency pairs, such as GBP/USD, USD/JPY and EUR/USD,
Usually the period of highest volatility is the first 30 minutes after NFP data is published but it is likely to last up to 2 hours. There are two other indicators you need to pay attention to such as the unemployment rate and average hourly earnings.

 

[Titulus]

NFP is an abbreviation for Non-Farm Payrolls, which is a key economic indicator released monthly by the US Department of Labor. The figure measures the change in the number of people employed in the US economy, excluding the agricultural sector.

The NFP report is closely watched by traders and investors because it can provide insights into the health of the US economy. A strong NFP figure indicates that the economy is creating jobs and is likely to be growing, while a weak NFP figure indicates that the economy is losing jobs and may be heading for a downturn.

 

[Ivo Zetticci]

Don’t get upset after a few while; rather take time to develop trading step by step. Try to catch the market environment first and then open a trade.

 

[Asahi]

So, this issue apprises us of selecting the right trading broker. We have to make sure whether the broker we are going to select provide high security of funding or not.