Yea its NFP time , First Friday of every new month U.S labor department releases the Non Farm Payroll data and this time it has a upbeat number of having added 255k jobs with 0.3% average hourly earning(expectation was for 0.2%) and by only missing the total unemployment percentage by 0.1% to 4.9% (but still under 5%). The first reaction was a buying in USD across pairs and USD moving higher by atleast 50 pips across board.This should now bring back speculation of rate hikes sooner by Federal Reserve.We should remember that across nations the central banks are in an easing mode with rate cuts (RBA and BoE did it this week too) and we only have U.S. Fed in the tightening mode which should now give some strength to USD. For intra day players wait for retracements in M5 to M15 to get into the trend and buy USD against easing currencies. Enjoy the weekend and I shall be back with more up to date views and research calls next week.
Disclaimer :- Trading is not for the weak hearted , Trading these instruments involves high level of risk and losses can exceed capital (depending on your FX Broker).My advises should be used as a medium to learn and not as a medium to get RICH.I dont have any formula for anyone to get RICH. I shall share no responsibility for anyone's profit or losses.Once again Trading is not for everyone.
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