Nfp?

Hi,
What does NFP in forex means.
What does it got to do with friday only.
Please help

Stands for Non-farm payroll. It is released the first Friday of every month. The report releases the estimation of non agricultural jobs in the US. If jobs are down, it is believed it will have a negative effect on the economy. Likewise, if jobs are up it should garish positive results.

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Many thanks for the information.
Is it better not to trade on this day then??

Some pros and experienced traders trade news- NFP also.

They are good at fundamentals and technicals also, so they can “predict” the price action.

For newbies and unexperienced traders is recommended not to trade news. That means 1-2hours before and after the news. If the news is not important maybe half an hour before and after.

I’d say it’s only 10 minutes either side of news, but it does of course depend on your strategy.

That’s something that you’ll have to determine for yourself. I trade on those days. But I trade off a daily chart and am looking at a much larger picture than just one day.

Yes. However, a few hours before the release of the news I am more apt to close trades that are in profit.