NFP (Non-Farm Payrolls)
Non-Farm Payrolls reports the change in US employment excluding farm workers, published on the first Friday of most months. It arrives alongside the unemployment rate and average hourly earnings, and is the single most watched labour release in the world. Surprises move the US dollar, gold and equity indices sharply within seconds of publication.
Full explanation
Markets judge NFP against consensus and against revisions to prior months, which can matter more than the headline figure. Average hourly earnings carry extra weight when inflation is the central concern. Expect a violent first move, frequent whipsaw, wider spreads and slippage. A common approach is to avoid holding positions through the release and to trade the established direction once the initial two-way spike has settled.
Why traders watch it
Employment strength shapes Federal Reserve policy expectations, so NFP frequently sets the tone for dollar pairs for the rest of the session and often the week.
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