Don't Remember Today Is A Holiday, Traders Don't Need To Know About NFP - Kakiforex | Forex markets for the smart money. Don't Remember Today Is A Holiday, Traders Don't Need To Know About NFP Don't Remember Today Is A Holiday, Traders Don't Need To Know About NFP

April 2, 2021

Don't Remember Today Is A Holiday, Traders Don't Need To Know About NFP

 For the first time in six years, the much-anticipated NFP jobs data every first week of the month, falls on a Good Friday holiday on which most major markets are closed.


Subsequently, investors can see low liquidity in market movements when employment data is published.


Analysts expect a stronger reading, with key employment growth expected to rise to 652,000 and the unemployment rate projected to decline to 6.0%.


However, average hourly earnings are expected to remain slow with an increase of only 0.1%.



Market expectations for the upside, were further strengthened by some previously published economic data displaying better -than -expected readings.


For example, ADP employment data published on Wednesday showed strong growth from 176,000 to 517,000 in March.


Meanwhile, the average unemployment claim for 4 weeks showed a fall last month and continued to rise below 4 million.


In addition, the market was also marked by the reading of the employment component in ISM manufacturing which recorded a significant increase.


With these encouraging numbers, the market is confident the NFP employment data will post a stronger reading in March.