On Friday, 02-05-10 at 8:30 AM ET, the Bureau of Labor Statistics released the monthly reports of the USD Non-Farm Employment Change and Unemployment Rate.
These were 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 “preview” post for this 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 = -85K———–revised = -150K
Forecast = 10K
Actual = -20K
USD Unemployment Rate – Stats
Previous = 10.0%
Forecast = 10.0%
Actual = 9.7%
Here is how I was set up up and the results:
USD-6-30AM-02-05-10
Looking for a 125K difference
Actual > Forecast = Good for USD
USD Non-Farm Employment Change
——actual———-forecast———-previous
________________10K________-85K
____-20K________ 10K_______ -150K
out at -115K or lower – SELL GBP/USD
out at 135K or higher – BUY GBP/USD
Bad – “actual” came out lower then “forecast” by 30K
Good – “actual” came out higher then “previous” by 65K
Good – “actual” came out higher then revised “previous” by 130K
USD Unemployment Rate
Actual < Forecast = Good for USD
——actual———-forecast———-previous
______9.7%_____10.0% ________10.0%
Good – “actual” came out lower then “forecast” by 0.3%
Good – “actual” came out lower then “previous” by 0.3%
The market was very erratic as you will see in the charts. I did not venture a trade.
If I had been set up to trade the USD/CAD currency pair – some good trade opportunities there.
Here are the charts:
a one minute EUR/JPY chart
This EUR/JPY currency pair spiked down/up/down 1st 2 minutes about 99 PIPS/ 62 PIPS/ 50 PIPS
Moved up next 8 minutes about 116 PIPS
Moved down next 31 minutes about 100 PIPS
a one minute EUR/USD chart
This EUR/USD currency pair spiked down/up 1st minute about 23 PIPS/ 16 PIPS
Moved down 2nd minute about 19 PIPS – wrong direction?
Moved up next 3 minutes about 63 PIPS - right direction?
Ranged
a one minute GBP/JPY chart
This GBP/JPY currency pair spiked down/up 1st minute about 110 PIPS/ 60 PIPS
Moved down next 2 minutes about 75 PIPS
Moved up next 8 minutes about 150 PIPS
a one minute GBP/USD chart
This GBP/USD currency pair moved down 1st 2 minutes about 38 PIPS – wrong direction?
Moved up next 6 minutes about 62 PIPS – right direction?
Moved down next 6 minutes about 28 PIPS – wrong direction?
Moved up next 14 minutes about 35 PIPS – right direction?
a one minute USD/CAD chart
This USD/CAD currency pair moved up 1st 2 minutes about 20 PIPS – wrong direction?
Moved down next 26 minutes about 110 PIPS – right direction?
a one minute USD/JPY chart
This USD/JPY currency pair spiked down/up 1st minute about 65 PIPS/ 40 PIPS
Moved down next 2 minutes about 37 PIPS – right direction?
Moved up next 8 minutes about 73 PIPS – wrong direction?
Moved down next 27 minutes about 62 PIPS – right direction?
The next scheduled release of the two major reports is on Friday, 03-05-10 at 8:30 AM ET.
I will probably post a “preview” a day or two prior.
Stay tuned!
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