NFP May 3, 2019 at 13:00 (GMT). Are you ready to trade?

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What to expect from NFP release? Hello, Trader FX   The U.S. Nonfarm Payrolls and Unemployment Rate are out tomorrow,  May 3, 2019, at 13:00 UK Time (GMT) and expected to cause significant volatility in the markets. On the first Friday of the first month of the new year, the attention of traders will be directed to a fresh package of US fundamental data on the labor market. An economic indicator that tends to trigger sharp market movements in the minutes leading up to its release and afterwards, the NFP is released by the U.S. Department of Labor on the first Friday of each month, outlining changes in the number of employees, excluding farm workers and those employed by the government, non-profit organisations and private households. Go to Cabinet What to expect this month: NonFarm Payrolls Last data: 196K Consensus forecast: 185K The US labor market remains the backbone of the US economy, and all signs point to another significant increase in the number of jobs. After the publication of 196K in March, the consensus forecast assumes that in the fourth month of the year 185 thousand new jobs will be added. Despite the fact that the projected figures are slightly lower than the previous ones, at the moment this is not significant. According to the calculation of the Atlanta Fed job growth, over the next 12 months, the US economy needs only + 111 thousand new jobs per month to maintain the current unemployment rate of 3.8%. If this forecast is justified, Forex traders should expect an increase in the US dollar in relation to its main competitors. Average Hourly Earnings Last data: 0.1% Consensus forecast: 0.3% According to recently published data, the growth of the American economy increased in the first quarter. Its main catalysts were the reduction of the trade deficit and the record accumulation of unsold goods in three years. In the first quarter of this year, the country's GDP showed a very good growth of 3.2 percent. Gross domestic product growth has also been helped by increased public investment. We believe that due to the above mentioned parameters, the Average Hourly Earnings numbers will be about 0.3%. If this forecast is justified, then, together with good numbers on NFP, this will further strengthen the US currency. Unemployment Rate Last data: 3.8% Consensus forecast: 3.8% The US unemployment rate remains at a decently low level of 3.8%. We believe that it will at least remain at the same level, taking into account the outlined data on the growth of the American economy. In addition, this indicator may be supported by an increase in US exports. If this forecast is justified, then we should expect the growth of the US currency. USD rally can also take place if the indicator exceeds analysts' expectations or shows good numbers along with NFP and Average Hourly Earnings data. To keep your open positions and survive during the time of market volatility due to news release, make sure you have enough funds in your account. Deposit Funds Keep in mind: During the NFP announcement, expect high volatility, especially across USD pairs. Market sentiment can really affect currency movements. What traders expect from the report has as much impact as the actual released data, if not greater. A higher figure than the one registered during the previous month signifies an improvement in employment numbers. This, as well as the release of a higher-than-expected figure, means an increase in the number of jobs created and are positive for both the U.S. economy and the dollar. A lower figure than the one registered during the previous month, as well as a lower-than-expected figure, usually have a negative impact on the dollar as they demonstrate a drop in employment numbers. Remember that the sudden spike observed across the charts of many currency pairs upon the release of the NFPs is usually followed by a period during which the market tries to recover and return to its initial price levels. Please do not hesitate to contact us  with any questions in livechat   or e-mail us at support@paxforex.com Risk Warning:Forex and CFD trading carry a high degree of risk. As such they may not be suitable for all investors. Investors should ensure they fully understand the risks associated with CFD trading before deciding to trade. Investors may choose to seek independent advice and should not risk more than they are prepared to lose.

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