Every first Friday of the month, traders focus on one key event: Non-Farm Payroll (NFP) data. Let’s explore the psychology behind why NFP days turn cautious traders into risk-takers.
Understanding Its Impact
The Non-Farm Payroll (NFP) report, often referred to as NFP meaning, is released by the U.S. Bureau of Labor Statistics. This report offers a snapshot of the U.S. labor market’s health by revealing how many jobs were added or lost in the previous month, excluding farming, government, and a few other sectors. Traders look to the NFP as a crucial economic indicator, as it offers a snapshot of employment trends and is often seen as a proxy for overall economic strength.
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