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Nomura: Lowered its target price for XPeng Motors (09868.HK) from HK$113.00 to HK$94.00.March 23rd Futures News: On March 23rd, the Shanghai Futures Exchanges energy and chemical warehouse receipts and changes are as follows: 1. Pulp futures warehouse receipts: 165,075 tons, unchanged from the previous trading day; 2. Pulp futures mill warehouse receipts: 17,000 tons, unchanged from the previous trading day; 3. Offset paper futures warehouse receipts: 360 tons, unchanged from the previous trading day; 4. Offset paper futures mill warehouse receipts: 4,160 tons, unchanged from the previous trading day; 5. Fuel oil futures warehouse receipts: 0 tons, unchanged from the previous trading day. 6. Petroleum asphalt futures warehouse receipts: 36,100 tons, unchanged from the previous trading day; 7. Petroleum asphalt futures factory warehouse receipts: 52,020 tons, a decrease of 5,860 tons from the previous trading day; 8. Medium-sulfur crude oil futures warehouse receipts: 3,511,000 barrels, unchanged from the previous trading day; 9. Low-sulfur fuel oil futures warehouse receipts: 37,010 tons, a decrease of 6,110 tons from the previous trading day; 10. Low-sulfur fuel oil futures factory warehouse receipts: 0 tons, unchanged from the previous trading day.On March 23, Goldman Sachs now expects the European Central Bank (ECB) to raise interest rates by 25 basis points each in April and June 2026, up from its previous forecast of unchanged rates this year. This adjustment aligns with the forecasts made last week by JPMorgan Chase and Barclays, both of which also anticipated ECB action in April. Goldman Sachs points out that conflicts in the Middle East pose inflationary risks, while rising energy prices are a major concern.Macquarie downgraded XPeng Motors rating from Outperform to Neutral. It lowered its target price for XPeng Motors (XPEV.N) from $24 to $19. It also lowered its target price for XPeng Motors (09868.HK) from HK$93 to HK$73.On March 23, at a press conference held by the State Council Information Office, the State Intellectual Property Office announced that since the implementation of the special action plan for patent transformation and utilization in 2023, there have been 1.458 million patent transfer and licensing registrations nationwide, a year-on-year increase of 48%, with universities and research institutions seeing a 105.6% increase. By 2025, the total transaction value of technology contracts involving patents nationwide will reach 1.18 trillion yuan, a year-on-year increase of 18.8%. A number of key core technology patents have been deployed in future industries such as quantum technology, biomanufacturing, brain-computer interfaces, and 6G communication, laying a more solid foundation for efficient patent transformation and utilization.

What impact does NFP have on the forex market?

LEO

Oct 25, 2021 13:27

Nonfarm payroll employment is a compiled name for goods, construction and manufacturing companies in the US. It does not include farm workers, private household employees, or non-profit organization employees.

It is an influential statistic and economic indicator released monthly by the United States Department of Labor as part of a comprehensive report on the state of the labor market.

The Bureau of Labor Statistics releases data on the first Friday of the month, at 8:30 a.m. Eastern Time. 

This data is analyzed closely because of its importance in identifying the rate of economic growth and inflation.

Nonfarm payroll is included in the monthly Employment Situation or informally the jobs report and affects the US dollar, the Foreign exchange market, the bond market, and the stock market.

The markets react very quickly and most of the time in a very volatile fashion around the time the NFP data is released. The short-term market moves indicate that there is a very strong correlation between the NFP data and the strength of the US dollar. Historical price movement data shows a small negative correlation between the NFP data and the US dollar Index.

The figure released is the change in nonfarm payrolls (NFP), compared to the previous month, and is usually between +10,000 and +250,000 during non-recessional times. The NFP number is meant to represent the number of jobs added or lost in the economy over the last month, not including jobs relating to the farming industry.

As with other indicators, the difference between the actual non-farm data and expected figures will determine the overall impact on the market. If the non-farm payroll is expanding, this is a good indication that the economy is growing, and vice versa. However, if increases in non-farm payroll occur at a fast rate, this may lead to an increase in inflation. In forex, the level of actual non-farm payroll compared to payroll estimates is taken very seriously. If the actual data comes in lower than economists' estimates, forex traders will usually sell U.S. dollars in anticipation of a weakening currency. The opposite is true when the data is higher than economists' expectations.

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