US Non-Farm Payrolls Report also known as the NFP Report is very important for the market.
NFP Report affects USD, US Stocks and the gold market.
NFP Report basically releases the number of jobs that were added to US economy in previous month.
In the first week of January we will have our first NFP Report of 2017.
It all depends on market expectations. Analysts make an estimate of the number of jobs that should be added to the economy.
If the market is expecting 200,000 jobs to be added in the previous month.
And the NFP Report data says the jobs added were only 100,000.
Expect a big bearish reaction. Way too less jobs were added. This will drive USD into a long term downtrend.
However if the NFP Report data says that jobs added were 190,000, there will be little reaction and the market will most likely whipsaw.
On the other hand, if NFP Report data says 250,000 jobs were added last month, this will be bullish for USD and it will appreciate.