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There are contracts based on the Fed Funds rate, jobless claims and nonfarm payrolls. Traders can utilize these markets to express an opinion on the chance of a change in the Fed Funds rate, for example, or as a hedge if such a change would affect some other risk or position that trader holds. They are great tools for beginning traders but also for more sophisticated traders who can trade binaries outright or use as a hedging mechanism for an existing position.