Higher Figure of Non-Farm Payrolls = Higher Currency Rate
So how can you use the nonfarm payroll data in trading forex? You first listen to the gossips! Before the actual data are released, a lot of geeky analysts and economists sit together and announce payroll estimates. Then you wait for the data to be announced at around 1:30 in the afternoon (GMT) on the first Friday of the month. If the actual data come in lower than economists’ estimates, that usually signals that the U.S. dollar is weakening and that it is a good time to short the dollar (sell it).
If Actual Non-Farm Payroll Number is larger than Forecast = Good for Currency