On Friday, 07-02-10 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 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 are set up for this month:
USD Non-Farm Employment Change – Stats
Previous = 431K
Forecast = -106K
Actual = -125K
USD Unemployment Rate – Stats
Previous = 9.7%
Forecast = 9.8%
Actual = 9.5%
I did not enter a trade this time!!
Here is how I was set up up and the results:
USD-8-30AM-ET-07-02-10
Looking for a 100K difference
Actual > Forecast = Good for USD
USD Non-Farm Employment Change
——actual——–forecast——–previous
_______________-106K_______431K
____-125K______ -106K______ 433K
out at -206K or lower – SELL USD/JPY
out at -006K or higher – BUY USD/JPY
Bad – “actual” came out lower then “forecast” by 19K
Bad – “actual” came out lower then “previous” by 556K
Bad – “actual” came out lower then revised “previous” by 558K
USD Unemployment Rate
_____9.5%_______9.8% ______9.7%
Actual < Forecast = Good for USD
Good – “actual” came out lower then “forecast” by 0.3%
Good – “actual” came out lower then “previous” by 0.2%
0.2 diff. watch for conflict
Here are the charts:
(EUR/JPY)
a one minute EUR/JPY chart
This EUR/JPY currency pair spiked up/ down 1st minute about 59 PIPS/ 39 PIPS
Ranged for 12 minutes
(EUR/USD)
a one minute EUR/USD chart
This EUR/USD currency pair moved up for 20 minutes about 65 PIPS – right direction
(GBP/JPY)
a one minute GBP/JPY chart
This GBP/JPY currency pair spiked up/ down 1st minute about 80 PIPS/ 42 PIPS
Ranged for 4 minutes
moved down for 6 minutes about 63 PIPS
(GBP/USD)
a one minute GBP/USD chart
This GBP/USD currency pair moved up 1st 3 minutes about 38 PIPS – right direction
moved down for 12 minutes about 59 PIPS – wrong direction
(USD/CAD)
a one minute USD/CAD chart
This USD/CAD currency pair spiked down/ up 1st minute about 33 PIPS/ 12 PIPS
moved up next 9 minutes about 52 PIPS - wrong direction
moved down for 9 minutes about 42 PIPS – right direction
(USD/JPY)
a one minute USD/JPY chart
This USD/JPY currency pair spiked up/ down 1st minute about 52 PIPS/ 35 PIPS
moved down next 6 minutes about 52 PIPS – right direction
moved up for 8 minutes about 39 PIPS – wrong direction
The next scheduled release of the two major reports is on Friday, 08-06-10 at 8:30 AM ET.
I will probably post a “preview” a day or two prior.
Stay tuned!
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