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📈Latest NFP (US Non-Farm Payroll) Data Prediction for the Month of AUGUST 2022

By XFlow Markets Team Friday, Sep 2, 2022 | World News

US Non-Farm Payroll Data Forecast

For the Month of AUGUST 2022

 

The strong trading US Dollar Index almost near 20-year high; amid rising chances of aggressive interest rate hike in the next FOMC meeting in order to control inflationary pressure led a heavy volatility in currencies & equity markets.

On contrary, the probability of rate hike in upcoming ECB meeting remains bearish factor for USD.

Besides this, the commodities are ranging on lower levels amid slowdown in consumption demand & poor Chinese economic conditions.

The market will be monitoring an outcome of U.S Non-farm payroll which to be issued on September 02, 6.00pm IST, Friday & will show a change in the number of employed people during the previous month, i.e. August, excluding the farming industry.

The report expects a drop-down in employment figure by 295K lower than previous reading of 528K while Unemployment Rate may remain steady at 3.5%.

NFP August

Above graph shows mild progress in employment sector in last three months; however the recent forecast may drag down the curve.

On Wednesday, the result of ADP Employment Change data showed a fall in number by 132K lower than expectation which raises the chances of poor outcome of today’s NFP estimates.

If NFP data comes out to be stronger, then the possible effect can be – strong US Dollar Index, soft precious metals & stronger global indices. Other way round, if data shows downbeat results, then downside in indices & buying bias in Gold can be noticed.

Prepare yourself for NFP release on
September 2. 2022. at 6.00pm IST, Friday 
XFlow Markets Team

XFlow Markets is one of the leading brokerage firm in the trading industry with vast number of clientele followers. We are ranked as the top most firm with 9 years of experience along with top-notch trading services. We widely trade in Forex, Indices, and Commodities.

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