What non-farm payrolls is and why it matters for GBP/USD
Non-farm payrolls (NFP) is a monthly US employment report from the Bureau of Labor Statistics, covering the change in the number of paid US workers, excluding farm labour, government employees, and a few other categories. It’s one of the most closely watched releases in forex markets because it feeds directly into the Federal Reserve’s view of the US labour market, which in turn shapes expectations for US interest rates and the US dollar.
This Friday’s release, due at 8:30am ET (1:30pm UK time) on 7 August 2026, covers July 2026 data. It arrives roughly five weeks ahead of the Federal Reserve’s September policy meeting and will sit alongside the mid-August US inflation (CPI) report as core input into that decision. A stronger-than-expected jobs number tends to support the US dollar (and can pressure GBP/USD lower), while a weaker reading tends to have the opposite effect – though actual market reaction also depends on how the figure compares with economist forecasts, not just the headline number itself.
