The USA will publish unemployment claims on October 22 at 15:30 MT time. How to trade after the release?
Time to trade on NFP
US nonfarm payrolls (NFP) will be released at 15:30 MT time on September 7.
Billions of traders wait for the release of NFP every month. The indicator will show how many jobs were created in the US in August. The US Department of Labor will also publish unemployment rate and average hourly earnings. The Federal Reserve is closely monitoring these figures while making its monetary policy decisions. As a result, the release has a great impact on the US dollar in all currency pairs.
The last time, NFP came out at 157K versus the forecast of 191K but average earnings showed good growth of 0.3% and the unemployment rate declined from 4% to 3.9%. Traders focused on NFP, and the USD declined against the JPY, the GBP, the AUD, and other currencies.
• If the NFP indicator is bigger than expected, the USD will gain.
• If the NFP indicator is smaller than expected, the USD will fall.
Canada will publish the monthly GDP growth on October 30 at 14:30 MT time.
The European Central Bank publishes the monetary policy statement alongside with an update on the interest rate on October 29, at 15:45 MT time.
The Bank of Canada will publish the rate statement together with the interest rate on October 28, at 17:00 MT time.