NFP report is one of the most powerful drivers of the Forex machine. Traders across the globe have their own ways of benefiting from its release. Today we learn what is NFP trading and how to trade NFP report successfully.

One of the main fundamental events for Forex traders this week will be the release of fresh labor statistics from the US, coming out this Friday. NonFarm Payrolls, Average Hourly Earnings, and Unemployment Rate can have a significant impact on the US currency. NonFarm Payrolls Last data: 75K Consensus forecast: 160K

One of the main drivers, and perhaps the most important one, for traders this week will be the next release of labor statistics from the United States this Friday. NonFarm Payrolls, Average Hourly Earnings, and Unemployment Rate will have a significant impact on the behavior of the US currency. NonFarm Payrolls Last data: 263K Consensus forecast: 196K

As expected by our recent forecasts, the single European currency is under strong pressure from the US dollar and, at the moment, is actively selling in the foreign exchange market. The reason for this is the expectation of strong US labor market statistics coming out today. NFP forecast >

The release on the US labor market, which will be published this Friday, is in the focus of Forex traders. Intrigue adds the resumption of the strengthening of the US currency against the background of not very good fundamental data on the state of the European economy, published recently. NonFarm Payrolls Last data: 196K Consensus forecast: 185K

The release on the US labor market, scheduled for this Friday, will cause traders an unprecedented interest. The main reason is the shocking past employment data in the country's non-agricultural sector. NonFarm Payrolls Last data: 20K Consensus forecast: 175K

Many economists consider the non-farm payrolls (NFP) report out of the US as the biggest economic report each month. The Bureau of Labor Statistics (BLS), which is part of the US Department of Labor, releases the NFP report on the first Friday of each month. Economists expect tomorrow’s NFP report to show that the US economy added 312K jobs for October with an unemployment rate of 4.2%. The ADP Employment report which was released on Wednesday indicated the creation of 235K jobs in the private sector which beat estimates for the creation of 200K jobs.

This week will be very important for the US dollar. The speech by Fed chief Janet Yellen today and Nonfarm Payrolls data release on Friday can greatly affect the investors' expectations from the meeting of the Federal Reserve in June.

So far the monthly reports on employment in the US Nonfarm Payrolls (NFP) are becoming more and more interesting. Last month, the figures exceeded even the wildest analytical predictions, showing a great numbers of one of the most important indicator of the US economy: 190K. So, what to wait this Friday?

Traders are constantly monitoring various economic indicators to identify trends in economic growth. Some of the most watched economic indicators include the Consumer Price Index, housing starts, gross domestic product and the Non-Farm Payrolls (NFP) employment report.

Tomorrow will be a very interesting trading day especially for the US Dollar and for the Canadian Dollar.

Last Friday forex traders received the non-farm payrolls reports or NFP report for November and the US Dollar launched a strong rally after the report. The NFP report showed that 321,000 jobs were added in November. This was far above expectations where the consensus called for the addition of 230,000 jobs. The unemployment rate remained unchanged at 5.8%.

The non-farm payroll report or NFP report out of the US is often considered the most important economic report released out of the US. Forex traders often try to position their portfolios prior to the release in order to take advantage of the increase in volatility that usually accompanies the release of the NFP report.