The Fundamental FOREX Blog

On Friday, 05-07-10 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 will be released along with 1 other economic report:

USD Average Hourly Earnings (MoM)

This additional report 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 were set up for this month:

USD Non-Farm Employment Change – Stats

Previous = 162K ———–revised = 203K

Forecast = 198K

Actual = 290K

USD Unemployment Rate – Stats

Previous = 9.7%

Forecast = 9.7%

Actual = 9.9%

Entered 2 trades – both winners – USD/JPY

Here is how I was set up up and the results:

USD-8-30AM-ET-05-07-10
Looking for a 125K difference
Actual > Forecast = Good for USD
USD Non-Farm Employment Change
——actual——–forecast——–previous
______________198K_______162K
_____290K____ 198K_______ 230K
out at  73K or lower – SELL USD/JPY
out at 323K or higher – BUY USD/JPY
Good – “actual” came out higher then “forecast” by 92K
Good – “actual” came out higher then “previous” by 128K
Good - “actual” came out higher then revised “previous” by 87K

USD Unemployment Rate
_____9.9%_______9.7%  ______9.7%
Actual < Forecast = Good for USD
0.2 diff. watch for conflict
Bad – “actual” came out lower then “forecast” by 0.2%
Bad – “actual” came out lower then “previous” by 0.2%

Here are the charts:

(EUR/JPY)

a one minute EUR/JPY chart

This EUR/JPY currency pair spiked up/down 1st minute about 60 PIPS/ 59 PIPS
Moved up next minute about 28 PIPS
Moved down next 4 minutes about 150 PIPS
Moved up next 13 minutes about 95 PIPS

(EUR/USD)

a one minute EUR/USD chart

This EUR/USD currency pair moved down for 7 minutes about 75 PIPS - right direction
Moved up next 13 minutes about 59 PIPS – wrong direction
Moved down next 38 minutes about 62 PIPS – right direction

(GBP/JPY)

a one minute GBP/JPY chart

This GBP/JPY currency pair spiked up/down 1st minute about 38 PIPS/ 29 PIPS
Moved up next minute about 15 PIPS
Moved down next 54 minutes about 220 PIPS

(GBP/USD)

a one minute GBP/USD chart

This GBP/USD currency pair ranged down for 32 minutes about 60 PIPS – right direction

(USD/CAD)

a one minute USD/CAD chart

This USD/CAD currency pair minutes spiked up/down 1st 2 minutes about 24 PIPS/ 33 PIPS
ranged up next 55 minutes about 91 PIPS – right direction

(USD/JPY)

a one minute USD/JPY chart

This USD/JPY currency pair spiked up/down 1st 2 minutes about 51 PIPS/ 31 PIPS
ranged up next 55 minutes about 125 PIPS – wrong direction
Entered 2 trades – both winners here!!

The next scheduled release of the two major reports is on Friday, 06-04-10 at 8:30 AM ET.

I will probably post a “preview” a day or two prior.

Stay tuned!