Sessions and events
Non-farm payrolls
The monthly US employment report, released on the first Friday of the month at 08:30 Eastern. It is the single most disruptive scheduled release for dollar pairs, gold and US index instruments.
Also called: NFP
GFN’s figure
On a GFN funded account, profits from trades opened or closed within 3 minutes before or 3 minutes after a relevant high-impact release may be removed. News trading is permitted during evaluations.
In detail
Non-farm payrolls,explained
The release produces its largest move in the first seconds, when spreads are widest and fills least reliable. It is the textbook case of volatility that is difficult to convert into a result.
Positions already open going into it carry the full move whether or not the trade had anything to do with the data.
Related
Terms thatcome with it
Most rules only make sense next to the ones they interact with. These are the entries this one depends on.
News trading
Trading around scheduled economic releases, where volatility and spreads both spike at once. The strategy depends on execution quality at exactly the moment execution quality is at its worst, which is why most firms restrict it on funded accounts.
Economic calendar
A schedule of upcoming data releases with their expected impact, previous readings and forecasts. Checking it before a session is the cheapest risk control available to a trader.
FOMC
The Federal Open Market Committee, the body that sets US interest rates. Its scheduled decision, written statement and press conference move every dollar-denominated market, usually in two distinct waves about half an hour apart.
CPI release
The monthly consumer price index, the headline measure of inflation. It drives interest rate expectations more directly than almost any other release, which is why it moves currencies, metals and index instruments simultaneously.
Slippage
The difference between the price requested and the price filled. It appears when the market moves between order and execution, and it is most pronounced around news and at thin points in the session.
Also governed by /rules/news-trading
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