NFP is the most volatile scheduled forex event and a major one for rates and equities. Traders watch the headline jobs number, the unemployment-rate, average hourly earnings, and revisions to prior months.
Spreads widen and slippage is severe in the seconds around the release. Most prop-firms restrict trading through it.
Example: consensus is +180,000 jobs. The print is +75,000 with the unemployment rate up to 4.3%. The dollar falls, gold rises, and rate-cut expectations jump.
Related: unemployment-rate, cpi, fomc, economic-calendar, new-york-session