US employment report for November, will be released on Friday at 13:30 (GMT).
|Non-Farm Payrolls figure:||Expected at 177k, previous figure: 155k|
|Unemployment rate:||Expected at 3.7%, previous reading: 3.7%|
|Average Earnings growth rate:||Expected at +3.0% yoy, previous rate: +3.1% yoy|
Overall, if actual rates and figures meet the forecast, the indicators could imply a tight labor market however the expected tick down of the Average Earnings growth rate blurs the picture.
Should the market perceive the readings as ones which support the notion of a tight US labour market, we could see the USD getting some support.
On the other hand should the market, place more weight on the forecasted tick down of the
Average Earnings growth rate as a sign of weakening support for inflation pressures in the US labour market, we could see the USD weakening.
Please be advised that the above commentary is based on the presented forecast.
Overall, please be advised that the release may have market moving effects.
As you know, the first Friday every month signifies the release of the Nonfarm Payroll.
This is one of the most anticipated financial releases and is used as a gauge of economic health in the United States.
Generally, a high reading is seen as positive (or bullish) for the USD, while a low reading is seen as negative (or bearish),
What to expect from December’s NFP?
Tomorrow’s NFP release is expected to show that the U.S. added 177K jobs in December, an increase from 155K jobs in November.
December’s Unemployment Rate is expected at 3.7%, again, and Average Hourly Earnings (MoM) are expected to increase by 0.3%, slightly up from last month’s 0.2%.
As well as impacting the value of the U.S. Dollar, the release can also impact the stock market and the price of gold.
IronFX Rewards the Winner of the November Live Trading Competition
Let us take this opportunity to announce the winner of the Live Trading Competition of IronFX in November.
On the 20th of December, during a ceremony held in Kwangju, in South Korea, IronFX awarded the winner of the ‘IronFX November Live Trading Competition’.
IronFX is pleased to reward Sangbok Kim, who among hundreds of traders, managed to sustain his name at the top of the list and win the prize.
Between an exotic 13-day trip to paradise Belize for two and a $5,000 Cash Prize, the competition winner chose the Cash Prize!
IronFX would like to congratulate the winner for his achievement, which is owed to his extraordinary trading talent and dedication.
Seize the opportunity to join this month’s ‘IronFX Live Trading Competition’ and to visit Rio de Janeiro, its iconic places and outstanding carnival or win a $10,000 cash prize!