What is Non-farm payroll

Non-Farm Payroll Forex

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What is Non-Farm Payroll (NFP)?

The Non-Farm Payroll report, or NFP, is one of the most important Forex events each month and a key economic indicator for the US economy. The NFP report measures the number of jobs created in the United States during the previous month and shows the current unemployment rate. This number excludes the farming industry, government and non-profit employees. The NFP report generally causes large movements in the markets such as currencies, equities, treasuries, interest rates and also commodities.

Why is Non-NFP important for traders?

As you already know, jobs are the lifeblood of any economy and if people are working, wages are rising, and therefore workers are confident to spend more money and that fuels the broader economy. The NFP report provides an overview of the core fundamental conditions that drive the economy of the United States.

Given the fact that many economies around the world do business with the US, and make profits thanks to their American customers, the NFP report also has an influence on many world markets, and generates a lot of speculation among traders worldwide.

Currency pairs affected by NFP

The NFP economic data is an indicator of American employment, so the currency pairs affected by the NFP data release the most are the major currencies traded against the US Dollar (USD). These include:

Major pairs

Major pairs include: EUR/USD, USD/JPY, GBP/USD, USD/CHF, USD/CAD, AUD/USD, NZD/USD.

Euro / U.S. Dollar

Nickname: euro dollar

EURUSD

USDJPY

U.S. Dollar / Japanese Yen

Nickname: dollar yen

GBPUSD

British Pound / U.S. Dollar

Nickname: pound dollar

USDCHF

U.S. Dollar / Swiss Franc

Nickname: swissie, dollar franc

USDCAD

U.S. Dollar / Canadian Dollar

Nickname: loonie

AUDUSD

Australian Dollar / U.S. Dollar

Nickname: aussie

New Zealand Dollar / U.S. Dollar

Nickname: Kiwi

EURUSD

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Non-Farm Payroll Forex