gold investor. So if bond yield slip because wage growth disappoints, then the Greenback is more likely to get dragged lower even if jobs growth exceeds 100K. The many economies peg (tie) their currency's value to the reserve currency, many commodities such as gold and oil are priced in terms of the reserve currency and the local economy's debt is priced in terms of its own currency. What happened last time? But as always, just keep in mind that were playing with probabilities here, so theres always a chance that jobs growth may surprise to the downside instead. NonFarm Payrolls report measures the number of jobs added or lost in the US economy over the last month. And if you need to read up on what happened last time and whats expected this time, then todays edition of my Event Preview will help you out! Whats expected this time? Average hourly earnings m/m:.3 expected.
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The NFP report, because of its importance to the reserve currency, tends to move all markets: currencies, equities, treasuries, interest rates and also commodities. Markits manufacturing PMI report found that, firms registered a further rise in employment in November, with many noting that greater production requirements had prompted them to hire additional workers. Also, its worth noting that even if non-farm payrolls miss expectations, follow-through convert btc in euros selling tends to be limited as long as the reading is still above 100K, which is the minimum number of jobs needed per month to keep up with working-age population growth, as well. Overlay of USD Pairs: 15-Minute Forex Chart. Non-farm payrolls: 250K.
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