Well folks, it loos like we have dodged a bullet this morning with the release of teh US NFP report which showed a gain of 117K jobs vs. an expectation of 85K. As I have been saying all week, the bar had been lowered so it was not as great a hurdle to clear. If you watch my video “Forex In Four”, you will see that I am on record at teh 6-minute mark calling for a gain of 125K!
Nevertheless, all signs pointed to lower jobs growth and while this number isn’t nearly good enough to become elated about the economy, at least its not getting worse. After the major sell-off we’ve seen in the markets of late, this number is a welcome relief. The unemployment rate actually ticked lower to 9.1%, but part of that is due to a reduced workforce.
The question though, is whether of not this enough to stop the bleeding and at this point I am not certain. Because of the problems emanating from the Euro zone, it may be hard for investors to take risk into the weekend.
Today there is no market analysis or focus on the individual currency pairs as ALL eyes are on the US Non-Farm Payrolls report at 8:30AM EST. The report is expected to show a gain of 190K jobs, with a change in private payrolls of 216K. The unemployment rate is expected to remainb steady at 8.9%.
This is the most important news event for the forex market which is bound to induce a lot of volatility. In that vain, I am conducting a LIVE TRADING WEBINAR starting at 8:15AM EST to show my readers how they can use price action trading to trade the market during this event to mitigate risk.
If you haven’t done so already, please sign up at this link to be able to participate:
Both NFP and ISM releases today were USD negative. The market took off in the direction of the prevailing trend, aligned with fundamental analysis and traded using technical analysis. In a breakout day, such as this, Fibonacci and Pivot Points were great leading indicators to use. Live FOREX Training, 12+ Hours Everyday! www.fxbootcamp.com
The headline numbers were bad for the USD. There was no revision. Therefore, the dollar had little support and fell. The market moved quickly to the next level of resistance and stopped. A straight forward breakout trade. Live FOREX Training | All Day | Everyday! www.fxbootcamp.com
Non-Farm Payrolls disappointed with a gain of only 103K jobs, lower than 160K that was the low end of expectations. The unemployment rate fell to 9.4%, and this somewhat balances the NFP. EUR/USD choppy, but doesn’t rise too much. EUR/USD, that broke down before the release, jumped from 1.2940 to 1.3020 but then fell below
2011 begins with the last Non-Farm Payrolls report for 2010, and it will probably be a good one. Here’s what to look out for, and how it will impact currencies. The last Non-Farm Payrolls report, for November, was terrible. Only 39,000 were added, with weakness in all sectors. The expectations were for a much stronger
Non Farm Payrolls show a gain of only 39,000 jobs. The unemployment rate unexpectedly rose to 9.8%. This isn’t good. Initial reaction – EUR/USD rises above resistance to 1.33 in choppy trading and moves quickly to encounter the next resistance. Update – this level is broken as well – Euro/Dollar at 1.3360. The initial reaction [...]
Most of the recent evidence about the US economy point to a good Non-Farm Payrolls number on Friday – a big gain in jobs that could boost the US dollar, but this heavily depends on the atmosphere before the release. NFP Preview. The most importa
EUR/USD continued advancing, many hours after QE2 was announced, but is retreating towards the NFP. Will it close the week on higher ground, or will the Non-Farm Payrolls supply relief and keep the pair under resistance? Here’s a quick update on te