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    Thread: LEARNING HOW TO TRADE NON-FARM PAYROLL REPORT: A QUICK GUIDE FOR NOVICE FOREX TRADERS!

    1. #1
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      Default LEARNING HOW TO TRADE NON-FARM PAYROLL REPORT: A QUICK GUIDE FOR NOVICE FOREX TRADERS!

      Financial markets across the world are known to react sharply to worldwide economic events. These events have a major impact on currency markets and thatís why it is extremely important that Forex traders monitor the release of news on major global economic indicators.

      One such news event is the monthly release put out by the Bureau of Labor Statistics. It offers information on the state of employment in the United States, i.e. the farm employees, private household employees, government employees, and employees of nonprofit organizations etc. The most important indicator this affects is the US Non-Farm Employment Change.

      WHAT IS THIS NFP REPORT?

      Currency pairs (especially those involving the US Dollar) usually see huge price movements in a matter of heavy volativity inflections. And this generally occurs within an hour or two of releasing of the NFP data.

      So hereís what you need to know about NFP:

      It is a measure of the quantity of jobs added or reduced from the US economy in the last month. You can look for it at the US Department of Labor website, available 8:30 EST, first Friday of each month.

      The NFP Report is THE most important indicator of employment in the economy.
      It offers a birds-eye look at the fitness of the US economy overall, and the labor market specifically.

      Currency traders all over the world highly anticipate the release of the NFP report due to massive volatility and extreme increases in price fluctuation. Strong Numbers reflect a healthier U.S. Dollar which can cause currency traders to buy dollars. Weaker Numbers can reflect a weakened U.S. dollar which can cause currency traders to sell dollars.

      NFP influences the perception prevalent in current market. Think of it this way, if a strong U.S. NFP number shows over 200,000 jobs added which beats expectation; it encourages FX traders to buy U.S. dollar weighted currencies. Less than 100K jobs show contraction within the U.S. labor market and this discourages traders from buying U.S. dollar weighted currencies. Also this weaker non-farm payroll release will lead to FX Traders selling U.S. dollars.


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      NFP or non form payroll influences the perception prevalent in forex market. For learning, if a strong U.S. NFP number shows over 200,000 jobs added and beats expectationn iit encourages FX traders to buy U.S. dollar. But if Less than 100000 jobs show contraction within the U.S labour market and this discourages traders from buying U.S.currencies..


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