Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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Non-directional trading
A trading strategy that seeks to profit from market volatility rather than directional price movements.
Non-Farm Payrolls (NFP)
For one Friday each month, the entire financial world stops to watch a single US number. Non-farm payrolls, the NFP, counts how many jobs the American economy added or lost in the previous month, excluding farm workers along with a few other categories. Released by the Bureau of Labor Statistics, it is arguably the most important economic data point on the calendar, because the health of the jobs market drives Federal Reserve policy, and Fed policy can influence financial markets. A big surprise, up or down, can cause sharp movements in currencies, bonds, and stocks in seconds. Example: A foreign company earning profits in a non-convertible currency may find it cannot simply convert that money into dollars and send it home, because the government restricts how much local currency can be exchanged and repatriated; it must navigate central-bank approvals and controls, or watch its earnings sit stranded in a local account. That friction is exactly why investors may consider non-convertibility as a risk before putting money into such an economy in the first place.
Non-market risk
The risk of loss arising from factors outside of market movements, such as regulatory changes or geopolitical events.
Non-Tariff Barriers (NTBs)
Tariffs are the obvious way to block imports. Non-tariff barriers are all the other ways. NTBs are the rules, quotas, licences, standards, and red tape that governments use to restrict foreign goods without slapping on an explicit tax, and they can be just as effective at keeping competitors out. They come in many guises: import quotas, tangled customs procedures, strict product or safety standards that may make compliance more difficult for foreign suppliers, subsidies for local firms, and outright licensing requirements. Because they are subtler than tariffs, they are harder to measure and much harder to negotiate away. Example: A country that wants to shield its farmers without openly breaking free-trade promises might impose elaborate health and labelling requirements on imported food, requirements that foreign producers struggle to meet; no tariff ever appears on the books, yet the effect may be to limit imports and protect the domestic market from competition.
Nonce
A nonce is a number used once, a throwaway value that plays a starring role in cryptocurrency mining. On a proof-of-work blockchain like Bitcoin’s, miners are trying to find a hash for the next block that falls below a certain target, and the only part of the block they can freely change to alter that hash is the nonce. So they run through nonce after nonce, billions of guesses a second, hashing the block each time until one finally produces a result that meets the target. Example: A Bitcoin miner’s machine takes the data for a candidate block and tries a nonce, hashes it, checks whether the result is small enough, and if not, bumps the nonce up and tries again, over and over at staggering speed; the lucky miner whose nonce first yields a valid hash wins the block and its reward, which is why mining is essentially an industrial-scale guessing game dressed up in cryptography.
Nonfarm payroll (NFP)
A monthly report published by the US Bureau of Labor Statistics that provides information on employment levels in the non-farm sector of the economy.
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