Non-Farm Payrolls (NFP) — Schedule & Impact
Non-Farm Payrolls is the single most-watched jobs report in forex — it moves EURUSD, gold, US indices, and the US dollar across the board. Released the first Friday of each month at 13:30 UTC by the US Bureau of Labor Statistics.
About NFP
Non-Farm Payrolls (NFP) measures the change in the number of employed people in the United States, excluding farming, government, private household, and non-profit workers. It is released on the first Friday of every month at 08:30 ET (13:30 UTC).
The report is considered a leading indicator of consumer spending because more paychecks means more discretionary income. A reading significantly above forecast is bullish for the US dollar; a miss tends to weaken USD and boost gold.
NFP is released alongside the Unemployment Rate and Average Hourly Earnings — the three together drive the immediate market reaction. A strong headline NFP with weak wage growth can produce mixed moves.
How NFP moves forex markets
- Spreads widen dramatically on most pairs 1-2 minutes before and after release — factor this into stop placement.
- EURUSD, XAUUSD (gold), and US30 typically see the largest immediate moves. GBPUSD and USDJPY also react strongly.
- The first candle often reverses — many traders wait for a retest before entering. Avoid market orders in the first 30 seconds.
- Prop-firm accounts often have news-trading restrictions. Check your firm's rules before holding positions into NFP.
Frequently asked questions
What time is NFP released?
NFP is released at 08:30 ET (13:30 UTC) on the first Friday of every month. When the first Friday falls within the first two days of the month, the release can shift to the second Friday.
How does NFP affect forex?
A strong NFP beat typically strengthens USD against EUR, GBP, JPY, and weakens gold. A miss does the opposite. The Unemployment Rate and Average Hourly Earnings released alongside NFP can amplify or dampen the dollar move.
Should I trade the NFP release?
Trading the NFP release directly is high-risk — spreads widen, liquidity thins, and the first move often reverses. Many experienced traders wait 15-30 minutes for the dust to settle, or trade the trend that develops later in the session.