Cryptocurrency Q&A
Does NFP affect JPY?
Does NFP affect JPY?
CryptoNinja
Wed Jul 24 2024
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7 answers
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I'm curious to know if the Non-Farm Payrolls (NFP) report, which is a key economic indicator in the United States, has any significant impact on the Japanese yen (JPY). As an investor or trader in the cryptocurrency and finance space, it's important to stay informed about macroeconomic factors that could potentially affect asset prices, including currencies. So, do fluctuations in the NFP numbers tend to move the JPY in a predictable manner, and if so, what's the underlying logic behind this relationship?
7 answers
Tommaso
Fri Jul 26 2024
One such indicator that garners significant attention is the US jobs data, also known as the Nonfarm Payrolls (NFP) report.
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NebulaSoul
Fri Jul 26 2024
This report provides insights into the employment situation in the US, which is a key factor influencing the country's economic health.
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Silvia
Fri Jul 26 2024
The NFP report is released on the first Friday of every month, and it covers the change in the number of employed individuals, excluding farm workers, government employees, private household employees, and nonprofit organization workers.
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BlockchainMastermind
Fri Jul 26 2024
The North American trading session is a pivotal time for financial markets, as it marks the release of crucial economic indicators.
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KabukiPassion
Fri Jul 26 2024
The report's impact on the USD is significant, as it can either bolster or weaken the currency's value depending on the strength of the jobs market.
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