Find out what's driving the US Dollar right now.
What is it?
The US Non-Farm Payroll (NFP) Report is published today at 1.30pm UK time. The NFP is an umbrella term used to describe headcount employed in manufacturing, construction and goods companies in the US, it does not include employment for farm workers or private households.
So how does this effect me?
If you're buying or selling dollars, the overall number of jobs added or lost may effect the bang you get for your buck, as it is a crucial indicator of the current economic situation. The Pound has the potential to rise against the dollar if this afternoons NFP report disappoints. Markets are primed for an NFP of around 180,000 down from a fairly strong 209,000 the previous month. Anything below market consensus of 180,000 may send the Dollar lower, whereas anything above 200,000 could have the opposite effect. Watch this space.
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