US NFP is expected to be around 170K, and with recent releases showing a positive trend, Fed rate hikes, and Trump bulls, any stronger than expected release should continue to support USD strength. Unless we get a much weaker figure today, I’ll not trade against USD for an extended period of time.
8:30am (NY Time) US NF Employment Forecast 170K Previous 156K
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If we get a conflicting release, then well wait and see how the market reacts first. If there is an overwhelming sentiment driving the market, well get plenty of opportunities for an entry if we just wait for 5 minutes after the release; you´ll get a much clearer view.
TO BE UPDATED ON February 2, 2017
NFP Trading Strategy
Then the next step is to wait for the Unemployment Rate, which is expected to be at 4.7%. If the Unemployment Rate were to surprise higher, we’ll have to make a decision based on the market sentiment coming into this release… Of course, if Unemployment rate were to fall below 4.5%, then we should see a surge in USD as traders speculate Fed accelerate rate hiking process.
After all of the numbers have been released, wait for the market to push and wait patiently for a decent retracement before getting in. Look for recent support/resistance areas for entry as a high impact news with various components are extremely volatile, and those who are patient will always get a chance to enter with a much better entry.
US NFP (Nonfarm Payroll) Employment | February 3 , 2017 | Currency News
January 30, 2017 by Leave a Comment