fxstreet.com 05 Feb, 2021 12:30 am

When is the US monthly jobs report (NFP) and how could it affect EUR/USD?

When is the US monthly jobs report (NFP) and how could it affect EUR/USD?
Friday's US economic docket highlights the release of the closely watched US monthly jobs data, popularly known as NFP. The report is scheduled to be

US monthly jobs report overview Friday's US economic docket highlights the release of the closely watched US monthly jobs data, popularly known as NFP.Sky-high Nonfarm Payrolls expectations may trigger a bounce About the US monthly jobs report The nonfarm payrolls released by the US Department of Labor presents the number of new jobs created during the previous month, in all non-agricultural business.Consensus estimates point to an addition of 50K new jobs in January and the unemployment rate is anticipated to hold steady at 6.Not only is the unemployment rate currently almost twice its pre-pandemic level, but this is with participation 2ppts lower than before COVID-19.

Generally speaking, a high reading is seen as positive (or bullish) for the USD, while a low reading is seen as negative (or bearish), although previous months reviews and the unemployment rate are as relevant as the headline figure.The number is also subject to strong reviews in the upcoming months, and those reviews also tend to trigger volatility in the forex board.

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