This is a BIG economic indicator to watch out for. Firstly its content is very timely (preceding month) and secondly it is full of details about the job market and household earnings.
Last night we saw the:
- unemployment rate
- average hourly earnings
- average weekly hours
- non-farm payrolls (NFP)
Employment situation is generally announced at 8.30am ET on the first Friday of each month. Revisions may be done in later months.
It comes from the Bureau of Labor Statistics, Department of Labor.
The results cause big jolts in the various dollar pairs and carry trade crosses. Attached is a illustration of the EUR/USD on the 15min chart after the results were released.
