On Friday, 03-05-10 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 have 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 = -20K ———–revised = -26K
Forecast = -56K
Actual = -36K
USD Unemployment Rate – Stats
Previous = 9.7%
Forecast = 9.8%
Actual = 9.7%
Entered 3 trades – 2 winners, 1 loser – GBP/USD
Here is how I was set up up and the results:
USD-6-30AM-03-05-10
Looking for a 125K difference
Actual > Forecast = Good for USD
USD Non-Farm Employment Change
——actual———-forecast———-previous
________________-56K________-20K
_____-36K_______ -56K_______ -26K
out at -181K or lower – SELL GBP/USD
out at 69K or higher – BUY GBP/USD
Good – ‘actual” came higher then “forecast” by 20K
Bad – “actual” came lower then “previous” by 16K
Bad – “actual” came lower then revised “previous” by 10K
USD Unemployment Rate
_____9.7%_______9.8% ________9.7%
Actual < Forecast = Good for USD
0.2 diff. watch for conflict
Good – ‘actual” came lower then “forecast” by 0.1%
Neutral – “actual” came same as “previous”
Here are the charts:
(EUR/JPY)
a one minute EUR/JPY chart
This EUR/JPY currency pair moved up for 5 minutes about 87 PIPS
Ranged!
(EUR/USD)
a one minute EUR/USD chart
This EUR/USD currency pair spiked down/up for 4 minutes about 40 PIPS/ 40 PIPS
Moved down next 4 minutes about 53 PIPS - right direction
Moved up next 20 minutes about 49 PIPS – wrong direction
(GBP/JPY)
a one minute GBP/JPY chart
This GBP/JPY currency pair spiked up for 5 minutes about 120 PIPS
Ranged!
(GBP/USD)
a one minute GBP/USD chart
This GBP/USD currency pair spiked down/up for 4 minutes about 28 PIPS/ 40 PIPS
Moved down next 4 minutes about 55 PIPS – right direction
Moved up next 20 minutes about 55 PIPS – wrong direction
(USD/CAD)
a one minute USD/CAD chart
This USD/CAD currency pair spiked up/down/up 1st minute about 10 PIPS/ 16 PIPS/ 6PIPS
Ranged!
(USD/JPY)
a one minute USD/JPY chart
This USD/JPY currency pair moved up for 5 minutes about 81 PIPS – right direction
Minor move down next 55 minutes
The next scheduled release of the two major reports is on Friday, 04-02-10 at 8:30 AM ET.
I will probably post a “preview” a day or two prior.
Stay tuned!
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