Non farm payroll.
The NFP report: The most important economic indicator for the US
Definition :
NonFarm Payrolls report measures the number of jobs added or lost in the US economy over the last month. It is released usually on the first Friday of each month, at 8:30 EST. It is published by the US Department of Labor.
This report is important because the US is the largest economy in the world and its currency (US Dollar) is the global reserve currency. The many economies peg (tie) their currency's value to the reserve currency, many commodities such as gold and oil are priced in terms of the reserve currency and the local economy's debt is priced in terms of its own currency.
The NFP report, because of its importance to the reserve currency, tends to move all markets: currencies, equities, treasuries, interest rates and also commodities. It does it so immediately after the release of the economic data and sometimes so dramatically.
Fluttercurve Team while trading NFP releases base their advice on a previous preparation and some fundamental research. The elaboration of some macroeconomical analysis is essential for successful trading.
The NFP Trading Strategy
The NFP report generally affects all major currency pairs, but one of the favorites among our traders is the GBP/USD. Because the forex market is open 24 hours a day, all traders have the ability to trade the news event.
Our logic behind the strategy is to wait for the market to digest the information's significance. After the initial swings have occurred, and after market participants have had a bit of time to reflect on what the number means, we will enter a trade in the direction of the dominating momentum. We wait for a signal indicating the market may have chosen a direction to take rates. This avoids getting in too early and decreases the probability of being whipsawed out of the market before it has chosen a direction.
Fluttercurve offers a 30% - 45% ROI for NFP investments paid after 24 hours of trade directly to our investor’s preferred wallet. We advice starting with up to £50,000 for this portfolio and offer a 10% referral bonus. There is also a 25% commission charged on profits accrued from trades.