📈 Latest NFP (US Non-Farm Payroll) Data Prediction for the Month of February 2022

Mayhem can be seen in equity markets after Russian invaded Ukraine on February 24^th, 2022 amid multiple factors. The Russian unleashing troops, missiles & attacks on major Ukrainian cities, killing several people while U.S & allies imposing harsher sanctions on Russian financial institution & its operations with respective countries further aggravated the panic in overall market.

The surging Oil & other global commodities as the supplies & exports hamper; dragged down the indices as well. Besides this, the traders & investors remain cautious towards upcoming FOMC meeting with a focus on interest rate decision; keeping in mind U.S employment status, inflation concern & ongoing geopolitical issues.

 

On data front, the result of U.S Non-farm payroll will be issued on March 04, 7.00pm IST, Friday & will show a change in the number of employed people during the previous month, i.e. February, excluding the farming industry. The outcome may impact Fed’s future interest rate decision with a concern over economic growth.

The report expects a mild rise in employment figure by 407K; although lower than previous figure of 467K whereas a drop-down in Unemployment Rate leading to 3.9% is forecasted from 4.0% previously.

Below is the Graph showing the changes in Employment data since last three months.

For the data release of U.S ADP Non-farm Employment Change on March 02, the number of employed people increased by 475K higher than forecast 378K; which may contribute into slightly positive NFP results on Friday.

If NFP data comes out to be stronger, then the possible effect can be – strong US Dollar Index, soft precious metals & stronger global indices. Other way round, if data shows downbeat results, then downside in indices & buying bias in Gold can be noticed.