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NFP Day – Tomorrow a Big Market Catalyst Event or Not…..

Jul 4, 2019 (08:13)

by John Knobel

U.S. Nonfarm Payrolls (NFP)

Due Tomorrow at 12:30 GMT

NFP Preview

Nonfarm Payrolls measures the change in the number of people employed during the previous month, excluding the farming industry;
Job creation is the foremost indicator of consumer spending, which accounts for the majority of economic activity;
A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD;

NFP Forecast for June: 160,000 new jobs

Previous 75,000 new jobs created in the month of May
Yesterday’s ADP jobs report showed small gains in US payrolls; indicating that tomorrows NFP might have a positive outcome;

Summary: Average job gains are lower in 2019 then during 2018

US Job growth in health care; professional and business services has so far continued to trend higher, however;

Monthly job gains have averaged 164 thousand in 2019, compared with an average gain of 223 thousand per month in 2018; indicating slowing trend in US overall job growth;

Bottom Line:

Weaker NFP number may support US Stock markets; lower the USD; boost Gold prices
If NFP beats forecast stock markets and gold may pull lower; while the USD may strengthen

Source: FXGM / Bloomberg

The original content of this Market Update is done in the English language. Any other language translation is provided for the sake of convenience. In case of any inconsistencies between the original English version and any other language, the original English version shall prevail.

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