What to Expect in Today’s NFP?

The US Bureau of Labour Statistics (BLS) will release the February jobs report on Friday, 4th March at 15:30 GMT+2.

Nonfarm Payrolls are forecast to add 400K workers in February following 467K in January. The Unemployment Rate should fall 0.1% to 3.9% and the Underemployment Rate is predicted to rise to 7.2% from 7.1%.

The market environment continues to favour a strong dollar as we head into a weekend where the battle for Ukraine’s major cities looks set to intensify further. With a solid NFP result, the USD could receive some extra strength.  However, if the US NFP figures disappoint markets, then it will weigh on the Fed’s aggressive tightening expectations, offering additional impetus to gold buyers.

Gold remains one of the most sensitive assets to changes in risk mood. The Ukraine-Russia war re-escalation will likely keep investors away from higher-yielding assets, boding well for the traditional safe-haven gold. The yellow metal could attract further bids on its appeal as an inflation hedge as well.

Have your trading chart ready for an opportunity to trade!

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