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Israeli media reported that an estimated 35 people were missing in the Bat Yam area south of Tel Aviv following the Iranian attack.On June 15, Sabah Numan, spokesman for the Commander-in-Chief of the Iraqi Armed Forces, issued a statement on the evening of the 14th local time, saying that the Iraqi government firmly rejects any violation of Iraqi airspace by any party and firmly opposes Israels use of Iraqi airspace to launch military attacks on Iran or other neighboring countries. The statement stressed that such actions are completely contrary to the Iraqi Constitution, blatantly violate Iraqi sovereignty, violate the basic principles of international law, and have a negative impact on regional stability and peace. The statement also urged the United States to assume its responsibilities and prevent Israeli warplanes from crossing Iraqi airspace again and launching attacks. The Iraqi government promised to exercise maximum restraint and hoped to create opportunities for peaceful resolution of the crisis through diplomatic and political means.Israeli media reported that multiple missiles hit targets in the latest round of Iranian attacks.On June 15, local time, the Islamic Revolutionary Guard Corps of Iran issued a statement saying that in order to counter Israels aggression, the Islamic Revolutionary Guard Corps of Iran continued to advance the "Real Commitment-3" operation, and Israels fighter jet fuel production facilities and energy supply centers were attacked by a series of missiles. The statement also warned Israel that if Israels aggression is not restrained, the subsequent actions taken by the Islamic Revolutionary Guard Corps will be more intense and the scope of impact will become more extensive.June 15, according to Iranian media reports on the 14th, two refineries in Bushehr Province in southern Iran were attacked by Israeli air strikes that day, and some facilities exploded and caught fire. The fire has been brought under control. According to Irans Tasnim News Agency, a set of equipment in the 14th phase of the South Pars Refinery project caught fire after being attacked, and the rest of the equipment is still operating normally. Natural gas production in this phase of the project is still continuing. Another attack occurred at the Fajar Jam Refinery. The report said that the Iranian National Gas Company is conducting further investigations into the incident. The Islamic Republic News Agency of Iran quoted officials from the Bushehr Province Crisis Management Department as saying that the fires at the two facilities were brought under control on the evening of the 14th, and no casualties were reported. According to Israels Haaretz, this is the first time Israel has attacked Irans energy infrastructure, and it is the first time that an Iranian refinery has been attacked since the Iran-Iraq War in the 1980s.

NFP and Forex: What is NFP and How Does It Work?

Larissa Barlow

Mar 25, 2022 14:57

Nfp And Forex Trading: Key Points of Discussion 

  • The announcement of Non-Farm Payrolls (NFP) creates volatility in the FX market.

  • The NFP calculates the net change in employment jobs.

  • Forex traders utilize an economic calendar to anticipate the publication of the NFP.

  • What is a non-governmental organization (nfp)?

 

Non-farm payrolls (NFP) are a critical economic indicator for the US economy. It is the amount of new employment created, excluding agricultural workers, government employees, private home employees, and nonprofit organization employees.

 

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In general, NFP announcements produce significant volatility in the FX market. Typically, the NFP data is provided on the first Friday of each month at 8:30 a.m. ET. This article will discuss the importance of non-farm payrolls in economics and how to use them into a forex trading strategy.

 

What Effect Does The NFP Have On Forex?

 

NFP data is significant since it is issued monthly, giving it an excellent predictor of the economy's present status. The Bureau of Labor Statistics releases the statistics, and the next release may be found on an economic calendar.

 

The Federal Reserve Bank views employment as a critical indicator. When unemployment is elevated, policymakers frequently pursue an expansionary monetary policy (stimulatory, with low interest rates). An expansionary monetary policy seeks to boost economic production and employment.

 

Thus, if the unemployment rate is greater than usual, policymakers will attempt to stimulate the economy. Stimulatory monetary policy means lowering interest rates and decreasing demand for the Dollar (money flows out of a low yielding currency). To understand how this works in detail, please read our article on how interest rates affect FX.

 

The chart below illustrates how volatile FX can be following the announcement of the NFP. The projected NFP result for March 8, 2019 was 180k (job additions), however the actual result was only 20k. As a result, the value of the Dollar Index (DXY) decreased and volatility rose.

 

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Forex traders must exercise caution when it comes to data releases such as the NFP. Traders may be stopped out as a result of the abrupt surge in volatility. Spreads rise in lockstep with volatility, and larger spreads might result in margin calls.

Which Currency Pairs Are Affected the Most by the NFP

Because the NFP data is a leading predictor of American employment, it has the greatest impact on currency pairs that contain the US Dollar (EUR/USD, USD/JPY, GBP/USD, AUD/USD, and USD/CHF, among others).

 

Other currency pairings also see an uptick in volatility following the release of the NFP, and traders must be mindful of this risk of being stopped out. The chart below illustrates the CAD/JPY exchange rate during the publication of the NFP data. As you can see, even if a trader is not trading a currency pair tied to the US Dollar, a rise in volatility might force a trader out of their position.

 

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Dates for the Release of Non-Farm Payroll

NFP figures are typically released by the Bureau of Labor Statistics on the first Friday of each month at 8:30 a.m. ET. On the Bureau of Labor Statistics' website, you may see the release dates.

 

We propose adopting a pull-back strategy rather than a breakthrough approach because to the volatility nature of the NFP announcement. Before entering a trade using a pullback technique, traders should wait for the currency pair to retrace.

 

Using the same scenario as earlier (NFP findings of 20,000 vs. 180,000 predicted), we anticipate a depreciation of the US Dollar. In the example below, we will use the EUR/USD currency pair. We predict the EUR/USD will rise as a result of the worse-than-expected NFP report.

 

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Trading Nfp Data Releases: Best Practices & Additional Reading

The following are some pointers to keep in mind while utilizing NFP data releases to guide your forex trading:

 

  1. Each month, the NFP data is provided on the first Friday.

  2. Increased volatility and widening spreads are accompanying the announcement of the NFP data.

  3. Currency pairings that are not tied to the US Dollar may also see greater volatility and spread widening.

  4. Trading the NFP data release can be risky owing to increased volatility and potential spread widening. To avoid being stopped out, we recommend applying the right leverage, or none at all.

 

Other significant data releases to keep an eye on include the following:

 

While the NFP often influences the market, other major data releases include the CPI (inflation), Fed funds rates, and GDP growth.

 

If you're interested in learning more about trading the news and data releases, check out our beginner's guide to trading the news. Additionally, we recommend reading our tutorial on the characteristics of great traders to avoid the number one error traders make while trading forex.

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