Basically its the day the monthly report of employment in the U.S comes out.
(first friday of the month)
From the data it tells you if unemployment increased or decreased.
Usually its a good idea not trade when its coming out because of the high volatility
of the prices. It comes down to if you like trading in a volatile market or not. Personally,
I try not to and usually turn off my computer thursday then turn it back on sunday night but it comes down to what kind of trader you are.
I'd say it's one of the best non-chart indicators out there and its basically the only
news I wait for because I think everything else you can tell from the charts because
technical analysis (charts) reflect fundamental analysis (news reports).
For more information on it you can read up on it here:
http://www.investopedia.com/articles...t.asp?viewed=1
Cheers