The Fundamental FOREX Blog

Tomorrow on Friday 12-04-09 at 8:30 AM ET, the Bureau of Labor Statistics will release the monthly reports of the USD Non-Farm Employment Change and Unemployment Rate.

These will be released along with 4 other economic reports:

USD Change in Manufacturing Payrolls
USD Average Hourly Earnings (MoM)
USD Average Hourly Earnings (YoY)
USD Average Weekly Hours

These additional reports should not greatly affect the currency market.

I  did a “follow up” post for last months release, click here for a review.

Here is how the reports are set up for this month:

USD Non-Farm Employment Change – Stats

Previous = -190K

Forecast = -119K

USD Unemployment Rate – Stats

Previous = 10.2%

Forecast = 10.2%

It appears that the economists believe that Employment is going to improve and that the Employment Rate  is going to remain the same as last month, a possible conflict.

It is difficult for me to say which report will have the greatest impact on the market, some say that the Employment Change is the report that has the most impact.

Last time both reports were bad for the US economy.

I am going to watch both very carefully, hopefully they will come out in the same direction – Employment Change will improve and Unemployment Rate will go down, or the reverse.

The currency pair I will set up to trade this time is the USD/JPY – last month this pair moved in the right direction from the start, for about 61 minutes a total of  66 PIPS.

I did post a “follow up” of these reports, click here to see what happened.

The next release of these reports is scheduled for Friday, 01-08-10 at 8:30 AM ET, I will probably post a “preview” a day or two prior.

Stay tuned!