Global investors pay attention to an extremely important piece of data every month, known as the 'King of Data,' the moment it is released can have a strong impact on global trading markets.
This is the 'Non-Farm Payroll Data.'
The reason why Non-Farm Payroll Data has such a significant impact is that it objectively reflects the rise and fall of the U.S. economy.
Non-Farm Payroll Data is released by the U.S. Department of Labor's Bureau of Labor Statistics, and simply put, it is the statistical data of people who do not work in agriculture but are engaged in commerce and working in cities.
Non-Farm Payroll Data consists of three values: non-agricultural employment numbers, employment rate, and unemployment rate.
Each value is divided into previous value, expected value, and released value, reflecting the employment status of the non-agricultural workforce in the U.S.
Non-Farm Payroll Data can greatly influence the value of the dollar in the currency market. The value of the dollar is directly reflected in the fluctuations of the dollar index, and the rise and fall of the dollar index will instantaneously affect the global market.
Changes in non-farm employment numbers reflect the development and growth of the manufacturing and service industries; a decrease in numbers indicates reduced production by businesses, leading the economy into recession; in the absence of severe inflation, a significant increase in numbers indicates a healthy economic condition, which should be favorable for the dollar, and may suggest further interest rate increases that would also benefit the dollar. An increase in the non-farm employment index reflects economic growth, while a decrease indicates the opposite.
The main data reference for most investors is the non-agricultural employment numbers.
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