NFP Friday – 6th August 2021

NFP Friday – What to Expect 

This month, traders and economists are expecting another solid reading of 870K net new jobs, with the average hourly earnings figure expected to rise 0.3% m/m. 

There are four historically reliable leading indicators to set the scene each month’s NFP report: 

  • The ISM Manufacturing PMI Employment component printed at 52.9, up 3 points from last month’s 49.9 reading and back in positive territory. 
  • The ISM Non-Manufacturing PMI Employment component printed at 53.8, up more than 4 points from last month’s 49.3 reading and back in positive territory 
  • The ADP Employment report came in at 330K net new jobs, well below last month’s 680K reading. 
  • Finally, the 4-week moving average of initial unemployment claims rose marginally to 394K from last month’s 393K reading. 

The US labour market remains more uncertain and volatile than usual as it emerges from the unprecedented disruption of the COVID pandemic.  

Market analysts are suggesting the job growth figure may come in lower this month which potentially will have a negative effect on the USD. 

  • 15.30 – US – Non-Farm Payrolls, Average Hourly Earnings m/m, & Unemployment Rate  

Potential instruments to Trade: USD Crosses.  

Have your trading charts ready for this event! 

If you have any questions, please email our Education Centre.

If you have any questions or require any assistance, please contact one of our support team members via our Live Chat or email [email protected].

We are Errante. Trading made personal.

Errante is regulated by the Seychelles Financial Services Authority (FSA) under license number [SD038].

To find out more about Errante, visit https://errante.io/.

 
×

Search