$DXY, SP500, DJIA30, NDX100, BTC/USD, CAKE Technical Outlook, Edition #122 (08/10/2021)
Highly anticipated US Nonfarm Payrolls data is due imminently ⚡ Wrap up the weekly trading session with Q's special spotlight on major US Indices, Bitcoin & Altcoins. Equip the latest insights now 👇
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Positive forecast expectations for US NFP data - Danger Close with US Dollar Strength?
US markets engage in some profit-taking ahead of Nonfarm Payroll (NFP) employment coming out this evening.
The US NFP data is released on the first Friday of each month at 1.30 pm GMT, in most cases.
NFP refers to a statistic that measures the number of employed workers in the United States, excluding farm workers, government workers, private households, proprietors, and non-profit employees.
Q warns against underestimating the significance of this influential economic indicator.
The reported number of new jobs created in the non-agricultural sector reflects the American economy's overall level of activity and health.
Increases in new employment may be indicative of expanding economic activity - i.e. productivity growth. Consequently, there are several probable scenarios in the case of a high impact financial data release.