Hi Hivers,
The NFP is a high impact news that is released on the first Friday of every month. The news gives details of the job opportunities available to citizens of the United States of America, both old job opportunities and newly created ones. The news is called Non farm payroll because it excludes details of all those who are into Agriculture.
In FOREX we refer to the analysis of how this news impacts the market as fundamental analysis. Interpreting this news and applying it the right way can fetch you a truckload of money😊. Yes you heard me right, a truckload of mullar😆.
The basic idea is Job creation is an important leading indicator of consumer spending, which accounts for a majority of overall economic activity, which will automatically strengthen the the US dollar.
The NFP is measured by taking account of the change in the number of employed people during the previous month, excluding the
farming industry.
The pictures above are screenshots from forex factory calendar.
Here are some trade setups we analyzed from our forex group chat favours a strong rally of the USD to the upside I'm the coming weeks...
Thank you for reading, I hope I was able to add value to this beautiful community.
Love y'all❣️