The Non-farm Payroll (NFP) report, which is typically released by the US administration on the first Friday of every month, sets the tone for forex trading globally. The employment report (excluding data of farms, private households and non-profit organizations) is considered by the US central bank, Federal Reserve, to decide on policy actions regarding interest rates. If the report states high unemployment, the Federal Reserve may consider lowering interest rates. This will reduce the demand for the dollar, whose price relative to other currencies would drop. Otherwise, a healthy employment report would prompt the Federal Reserve to hike interest rates, leading to a spike in the USD’s value. Even news events before and after the NFP data release impact the forex market globally.