What is Non-Farm Payrolls? The US jobs report that moves currencies
By SendPay Business · · 2 min read
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Non-Farm Payrolls, or NFP, is the monthly count of how many jobs the US economy added or lost, leaving out farm workers and a few other groups. It is one of the most watched numbers in the forex market because it can shift expectations for US interest rates.
Who publishes it and when
The US Bureau of Labor Statistics publishes NFP in its Employment Situation report, usually on the first Friday of the month at 8:30am New York time. The same report includes the unemployment rate and average hourly earnings.
Why currencies react
- Traders compare the real figure with what economists expected.
- A strong surprise can raise expectations of higher US interest rates, which tends to support the dollar.
- A weak surprise can do the opposite.
- Revisions to earlier months can matter as much as the headline number.
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Questions people ask
How do interest rates affect exchange rates?
Higher rates can attract money into a currency and push it up.
Interest rates and FX →What is technical vs fundamental analysis?
Two ways traders try to read where prices go next.
Technical vs fundamental →Read next
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This guide is general information, not legal or financial advice. SendPay Business is a technology company, not a bank, and does not take deposits; regulated services on the platforms are provided by licensed partners. Other companies named in this guide are reference points only and are not affiliated with SendPay Business.