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June 1st - The "Regulations of the State Council on Outward Investment," adopted at the 83rd Executive Meeting of the State Council on April 17, 2026, are hereby promulgated and will take effect on July 1, 2026. Banking financial institutions should, based on their functional positioning and adhering to the principles of marketization, rule of law, commercial sustainability, and controllable risk, provide financing and other financial services to investors for outward investment within their business scope. Policy-oriented insurance institutions are encouraged to provide overseas investment insurance and other services to investors. The State will improve the outward investment management system, refine regulatory measures, implement full-process supervision by category and level, strengthen risk prevention and control, enhance the scientific nature and security of outward investment, and promote a combination of investment facilitation and effective risk prevention.June 1st - The "Regulations of the State Council on Outward Investment," adopted at the 83rd Executive Meeting of the State Council on April 17, 2026, are hereby promulgated and will come into effect on July 1, 2026. The State supports investors in conducting outward investment activities according to market principles and actively participating in international cooperation and competition. Investors enjoy the right to make independent decisions, bear their own risks, and assume their own profits and losses in accordance with the law. Investors conducting outward investment and related activities shall abide by laws, regulations, and international practices; respect local customs and cultural traditions; adhere to business ethics; act with honesty and integrity; compete fairly; fulfill social responsibilities; safeguard the national image; and shall not disrupt market competition, damage the ecological environment, infringe upon the legitimate rights and interests of workers, endanger Chinas national security, or harm national interests and the public interest.June 1st - The "Regulations of the State Council on Outward Investment," adopted at the 83rd Executive Meeting of the State Council on April 17, 2026, are hereby promulgated and will come into effect on July 1, 2026. These Regulations are formulated in accordance with the "Foreign Relations Law of the Peoples Republic of China," the "Foreign Trade Law of the Peoples Republic of China," and other relevant laws to promote high-level opening-up, facilitate high-quality development of outward investment, effectively manage outward investment, protect the legitimate rights and interests of investors and their outward investments, and safeguard national sovereignty, security, and development interests. These Regulations apply to outward investments by investors within the territory of the Peoples Republic of China. The State proactively aligns with high-standard international economic and trade rules, promotes high-quality Belt and Road cooperation, advances the construction of multilateral and bilateral investment cooperation mechanisms, actively participates in the formulation of international investment rules, promotes international cooperation in industrial and supply chains, opposes unilateralism and protectionism, and promotes the building of an open world economy.Crude oil futures contracts trended higher, with SC crude oil rising 1.15% to 596.6 yuan/barrel. Low-sulfur fuel oil (LU) rose 1.85% to 4730 yuan/ton. Fuel oil rose 2.77% to 3898 yuan/ton. Asphalt rose 2.01% to 4261 yuan/ton.On June 1, Jiang Lue, spokesperson for the China Coast Guard, stated that on June 1, the China Coast Guards Daishan frigate fleet conducted law enforcement patrols in the waters east of Taiwan. This is a necessary action taken in response to Japan and the Philippines unilateral announcement of initiating negotiations on the delimitation of the waters east of Taiwan, which seriously infringes upon Chinas territorial sovereignty and maritime rights. We urge Japan and the Philippines to immediately cease all illegal actions that infringe upon Chinas sovereignty and rights. The China Coast Guard will continue to strengthen control over the relevant waters and resolutely safeguard national territorial sovereignty and maritime rights with concrete actions.

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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