Non-Farm Payrolls-1

Fundamental analysis, which is very popular among traders dealing with stocks and other securities at the stock exchange, lends itself to well-founded criticism from traders of the forex market. The main reason is that influence of financial statements on the price of one stock cannot be compared to the influence of certain news on the national currency rate of the whole country.

Powell took a hawkish line when he spoke in Jackson Hole last week but avoided specifics to preserve his room for maneuver. The Fed chief said that the QE rollback could start this year, which the markets were quick to take into account as a credible event. The question is when the announcement will be made - in September or near the end of the year. The September Fed policy shift will likely require a strong positive surprise in the NFP report for August.

On July 2, the U.S. Department of Labor will release its June jobs report. It is expected that hiring will accelerate, and the unemployment rate will fall, which will help alleviate some of the recent labor shortages.

Everyone will agree that trading on the news is a very dangerous venture and requires nerves of steel. But with the right news selection, this tactic can bring in a lot of funds in a matter of minutes. In this article, we will discover what Nonfarm payroll is, why is it so crucial to the economy, as well as how to trade the NFP report to your advantage.