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Time of release: 12:30 GMT
Primary Pair Impact: GBPUSD, EURUSD, AUDUSD, USDCAD, USDCHF, USDJPY, NZDUSD, XAUUSD and USOIL
Expected Range: 170K - 190K
Previous: 195K
Event importanceIt's a leading indicator of economic health because it encompasses all major sectors of economy. Due to its deviation from market expectation more than usual compare to other economic indicators, market reaction are dramatic, and the information for investors is invaluable. The total non farm payroll accounts for approximately 80% of the workers who produce the entire gross domestic product of the United States. The non-farm payroll statistic is reported monthly, on the first Friday of the month, and is used to assist government policy makers and economists determine the current state of the economy and predict future levels of economic activity.
US employment report is to be released today with forecast range of 170k to 190K. Last announcement showed a change in private payrolls of 195K (prior 195K) and unemployment rate to 7.6% (prior 7.6%).
Today’s announcement of NFP after FOMC and ECB conference makes it very critical for the market as a whole. With FOMC’s promising to adjust policy after reviewing economic results NFP may be the trend setter for August.
Recent Economic DevelopmentsFollowing are the recent economic developments announced by USA. The table shows some good results in the recent history.
Positive
Negative
All the fingers crossed for the announcement. We are expecting a weakness in US Dollar.