NFP Trading Guide: How to Trade the US Non-Farm Payrolls
By James Thornton
The US Non-Farm Payrolls (NFP) report, released on the first Friday of every month at 13:30 GMT, measures the change in employment in the US excluding farm workers. It is one of the highest-impact economic events for currency traders.
The key number to watch is the headline payrolls change. Consensus forecasts are published by major financial data providers. A significantly higher-than-expected reading is typically USD-bullish; a miss is USD-bearish.
Risk management is critical during NFP. Spreads can widen significantly in the minutes surrounding the release. Use limit orders where possible, reduce position sizes, and avoid running trades into the number unless you have a clear thesis.
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