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What does Non-Farm Payroll represent? How important is this event for currency traders?
over 2 years ago
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The Non-farm payrolls or NFP represent the net number of people who lost jobs/hired. If it prints a positive headline number, that means more people were hired than fired. Of course, the opposite holds true. The NFP is important because gives investor a way to measure the direction of the economy. If more people are hired, it means more spending in the long run... This means growth for businesses and more jobs eventually. A sort of "positive" cycle. Another reason why the NFP is important is that... well, a bit silly reason but... A LOT of people watch it. It's like eating in a restaurant just because there are a lot of people inside!
over 2 years ago
The solution is simple. Increase the taxes on the top 10% to pay for this payroll tax cut.
http://www.taxprintindia.com/payrol...
2 months ago
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To add to my buddy ForexNinja's answer, take a look at what happened early in the US session last Friday, October 2! Take a look at some of the USD pairs - look at all the action that occurred right after the release of the report! It's important to know how much of an impact the report has, because it could either make or break your trade if you had any on. Always be on the look out for when the NFP and other high impact reports are released. I suggest you take a look at my buddy ForexGump's daily economic round up on BabyPips in order to stay up to date on what reports will be coming out and what their potential impact on the market could be!
over 2 years ago
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The Non Farm Payrolls report (NFP), is actually part of the Employment Situation report which also includes the Unemployment Rate, Average Hourly Earnings, and Average Workweek Hours. The NFP seems to get the most attention because it measures the actual number of paid employees (full and part time) in the business and government establishments. The NFP shows whether the labor market is shrinking or expanding.
For more information regarding the NFP report, kindly check the links below.
over 2 years ago
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