Non-Farm Payroll (NFP); Job Market Recovery Holds Strong, US Dollar Keeps Gaining Across-board

2nd October, 2022

Non-Farm Payroll is Published by the US Department of Labour and it gauges the United States labor market health which is a major economic indicator that impacts the US dollar, equities, gold, and many other financial instruments

Despite the inflation that has been hovering near a 40-year high and significantly rising interest rates, the U.S. economy recovered from July through October after contracting during the first half of the year. The strong recovery wave was powered by a more favourable trade balance, a small increase in consumer and corporate expenditure, and an offset to a further decline in housing construction.

Lately, the US gross domestic product, (GDP), the value of all goods and services produced increased at a seasonally adjusted annual rate of 2.6% in the third quarter according to the Bureau of Economic Analysis.

According to the Federal Reserve Chair, Jerome Powell speaking on the state of the job market and economic outlook,

Labor demand is very strong; job participation rate remains solid and the American economy is strong and well-positioned to handle tighter monetary policy”.

The strong US job market and the healthy economy are driving the US Dollars gains to the upside. Currently, the market is anticipating further growth in the labour market with a forecast of 190,000 jobs addition. This could possibly drive the US dollar valuation upward with massive gains if the report comes as expected.

Ahead of the news release, traders are trooping into the trading platform to take advantage of the market moves. 

On the economic monetary policy normalization frontline, the attention has shifted completely to bringing the looming inflation under control. Following surging prices for gas, food, and shelter, the US inflation rate hit a 40-year high as the CPI (Consumer Price Index) soars above 8.5%. The Federal Reserve is expected to hike the interest rate by 75 basis points. This could rattle the stocks and commodities market but US dollars will remain strong in gains across the board.

Nevertheless, Traders should brace themselves up for a period of high volatility as an increase in Non-farm Payroll will strengthen the USD while a decrease will weaken the USD.

In response to the news release, trade the financial market with the following trading instruments on the ACT Brokers platform (, as these pairs are mostly affected by the data release; BTC/USD, ETH/USD, XRP/USD, EUR/USD, GBPUSD, XAUUSD, USDJPY, USDCAD, USDCHF, AUDUSD, NZDUSD, US30, US100, USOIL, Facebook, Amazon, Tesla, etc.

Time Schedule for the NFP release:

Date: Friday 4th November 2022

 Time: 1:30 pm (GM + 1)


Amogo Solomon is a Broker-Dealer/Market Research analyst and writer in ACT Brokers with a background in Computer Science, Data Analytics, and Forex Broker Dealing. He specializes in Forex Dealing, markets Analysis, Currency research, forex fundamental and technical analysis, and Monitoring of Forex trends, Stocks, Equities, Cryptos, and Commodities. He possesses strong technical and analytical skills and is well known for his entertaining and informative analysis of the global economy, fiat currency, commodities, Stocks, Indexes, Futures, and Options markets. He held a Bachelor's degree in Computer Science and Nanodegree in Programming for Data Science Enterprise.