Here is a short analysis of the Non-Farm Payroll News
The mighty NFP and Unemployment News will be released on September 1st by 1:30pm, based on the analysis, NFP is expected to drop around 180K, and considering the recent US Flood and the tension from North Korea, to America we don't expect stronger USD due to the panic which may lead to lost of job and abandoment of the dollar for safer currency.
Clearly, if we get a better actual than forecast, the market will react in favor of the USD so we should keep our eyes open to the actual report.
Please don't forget that strong NFP could create a strong and volatile movement among all the USD related pairs.
If you follow most economic calenders, you will notice that this week NFP Employment Change release is forecasted at 180K.
Also, the Unemployment Rate is expected to be at 4.3%. If we get a lower release on the NFP, anything less than 180K and slightly higher Unemployment Rate 4.3% or more, I would advice to SELL the USD against other paired currencies.
Note: it will be better to stay out of the market if you are not sure of the trend then enter after 5 minutes from the news release.
Enjoy the green pips.
Leave a comment