The NFP release for June is coming
NFP (NonFarm Payrolls) represents the change in the number of employed people in USA during the previous month, excluding those who work in the farming industry. This is one of the most anticipated financial releases. In general, it is used as a gauge of economic health in the United States.
Generally, a high reading is seen as positive (or bullish) for the USD, while a low reading is seen as negative (or bearish).
July 2nd, 15:30 MT Time
The NFP release for June
The NFP release for June is coming
NFP Forecast
The last NFP report pleasantly surprised investors, beating all estimates. Numbers rose by 2.5 million when analysts anticipated contraction by nearly 8 million. It was a surprising but clear sign that the US employment recovery had started.
We can’t be confident in how exactly the market will react to the fresh employment data. During the pandemic, the US currency also served as a safe-haven asset and was still attractive for investors, even if the data was dire. However, now it seems that this role wanes, and everything gets back on track. Thus, most likely, if NFP is better than expected, USD will gain, otherwise — drop.
Get ready for NFP release on July 2nd, 15:30 MT Time!