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On September 14th, the Yemeni government forces stated on the 13th that in the month-long conflict between the government forces and Houthi rebels along Yemens western coast and related islands, the government forces suffered approximately 2,000 casualties, while the Houthis suffered over 1,000 deaths and thousands of injuries. According to a statement released by the Yemeni military group "National Resistance Forces" and cited by Yemeni state television, the casualties occurred between August 9th and September 10th. The statement said the conflict began with Houthi attacks on the "National Resistance Forces" using missiles and drones, and subsequently spread from southern Hodeidah province on the Red Sea coast to the neighboring Taiz province.September 14th - According to the Jerusalem Post, Trump hinted on Sunday that the US might remain in Iran and "take the oil," comparing it to the US push to control one-fifth of Venezuelas vast oil reserves. Trump was in Ireland for talks and to watch a golf tournament. He reiterated that he still expects the war with Iran to end this year, but it could not end until shortly after the US midterm elections in November. However, Trump also raised an alternative to ending the war: continued involvement in Iranian affairs. He compared this to the agreement reached in Venezuela. Trump stated, "Ultimately we will leave Iran unless we decide to stay and take the oil, like we did in Venezuela." He also claimed that the revenue the US received from Venezuela has "multiple times paid for the costs of the war."On September 13th, according to foreign media reports, US President Donald Trump appeared to reject calls from several high-ranking figures in the artificial intelligence field on Sunday to slow down the development of AI models. During an interview at the Irish Open golf tournament, Trump said, "We are the most advanced country in the world, and frankly, I want that to continue. Whoever wins in AI wins everything." On Saturday, three of the most influential leaders in the AI industry—Anthropic CEO Dario Amodei, OpenAI CEO Sam Altman, and xAI founder Elon Musk—jointly supported slowing down the pace of AI model capability improvements. Trump said, "I think there are a lot of negative forces pushing this thing that shouldnt even be brought up. Theyre bringing up things that simply wont happen."On September 13th, it was reported that the summit originally scheduled for July 22nd, aimed at finalizing a reset agreement for the UK-EU relationship after Brexit, was postponed. The two sides subsequently quietly set the meeting date for November 6th. However, the Financial Times, citing two EU officials, stated that this date has now been postponed again, and the earliest it could be reached is the end of November. British officials insist that the summit should discuss new British Prime Minister Andy Burnhams concerns about the "Make in Europe" plan. This plan proposes prioritizing spending by some public sector and businesses on purchasing EU-made products, a move the British government fears will negatively impact British industries such as automobiles and chemicals.According to IRNA, sources say that sirens were sounded and explosions were heard in the southern Saudi city of Khamis Mushait and Abha.

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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