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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
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%.
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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