The non-farm employment data in the United States can reflect the employment status of manufacturing and service industries in the United States, and it is also an important indicator for the Federal Reserve to evaluate the overall economic situation in the United States and then adjust its monetary policy. The non-farm employment data in the United States is calculated on a monthly basis, and the statistics of last month are released at the beginning of each month. American non-farm employment data is released by the Bureau of Labor Statistics of the US Department of Labor on the first Friday of each month. Non-farm employment data reflects the development and growth of manufacturing and service industries. If the number of non-agricultural employees decreases, it means economic slowdown or depression.
Non-agricultural data is an important reference data of monetary policy.
1. Non-agricultural data reflect the development and growth of manufacturing and service industries.
The reduction of non-agricultural figures means that enterprises reduce production and the economy falls into depression. When the number of non-agricultural employees increases significantly, it shows that the employment situation is good, which can improve the consumption capacity and level to a certain extent, promote the sound development of the overall economy, and promote new employment due to the healthy development of the economic situation. So positive non-agricultural data can boost the exchange rate, and vice versa.
2. Non-agricultural data is one of the reference data for the Federal Reserve to formulate monetary policy.
The Fed has two core objectives: controlling inflation and stimulating employment. Therefore, when formulating monetary policy, non-agricultural data must be one of the key data to be considered. Generally speaking, after the release of non-agricultural data, many Fed officials will make some speeches on this data.
Impact of non-agricultural data
Non-agricultural data can greatly affect the dollar value of the money market, so it will have a certain impact on foreign exchange, precious metals, crude oil and commodities. A vibrant employment report can push up interest rates and make the dollar more attractive to foreign investors.
Non-agricultural data objectively reflect the rise and fall of the American economy. In the recent exchange rate, the dollar is extremely sensitive to this data, higher than expected, favorable to the dollar, lower than expected, and unfavorable to the dollar.
Impact of precious metals trend: non-agricultural data was better than expected, the US economy improved, the US dollar rose, and gold fell. Non-agricultural data was worse than expected, the US economy deteriorated, the dollar fell, and gold rose.
Impact of crude oil trend: non-agricultural data was better than expected, the US economy improved, the US dollar rose, and crude oil fell. Non-agricultural data was worse than expected, the US economy deteriorated, the dollar fell, and crude oil rose.
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