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The biggest economic report of the month is coming on Friday, March 7th. It has the power to move the stock and bond markets in huge ways. And it moves currencies more than nearly any other news event.

The Nonfarm Payrolls Report is crashing in.

Like the cyclical power of the moon, the Nonfarm Payrolls Report is released on the first Friday of every month. Although it is not the first major indicator of the month -- the ISM Manufacturing Survey holds that exhaulted position -- the employment report is watched by traders, investors, and markets around the globe.

The February payrolls report is expected to show that 20,000 new jobs were created, which is a jump from the miserable January employment figure.

The employment report has the power to create a huge amount of demand for the USD. However, it can also create more demand for other currencies like the Euro or Swiss Franc, which could cause the USD to decline.

If you have plans for Friday at 8:30am, break them. Clear your calendar because the employment report is coming -- and you can expect big moves from the USD. This event should not be missed.

Are you a bull or bear?