Source: ForexYard
Can This Month’s NFP Report Send Oil Prices Higher?
At FOREXYARD, we believe in keeping our clients prepared for potentially significant news events. As such, traders will want to pay careful attention to the US Non-Farm Payrolls (NFP) report, set to be released today, January 4th, at 13:30 GMT. As can be seen in the chart below, following a better than expected NFP report last month, speculations that demand for oil in the US would go up resulted in crude prices spiking.
Don’t miss out on another opportunity to capitalize on market volatility!
Analysts widely agree that the Non-Farms report is the most significant news event on the forex calendar. With today’s figure forecasted to come in at 135K, slightly below last month’s 146K, the US dollar could see losses before markets close for the weekend. That being said, a better than expected NFP report could lead to investor risk taking, which would boost oil prices. This is an excellent opportunity for forex traders to take advantage of potentially significant news, so don’t miss out!
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