US ADP Non-Farm Payroll Change 09/02/09

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8:15am (NY Time) US ADP NFP Changes Forecast -250K Previous -371K
ACTION: USD/JPY BUY -180K SELL -320K

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Leads the government-released employment data by 2 days, and has slowly demonstrated its predictive qualities since its May 2006 debut. Source changed the calculation methodology in Feb 2007 and Dec 2008 to better align with the government’s data.

UPDATE: It was a no trade because we didn’t get our tradable deviation plus the immediate market reaction to the news was rather muted. Although the market moved significantly in about a couple of hours, we had a mostly ranged trading day which proved me correct on staying out of the market.

About Henry Liu

My name is Henry Liu and I am a Forex Trader and Mentor. I help traders achieve consistent income trading Forex while spending less time trading. My focus in trading is a combination of Fundamental Analysis, Technical Analysis, and Market Sentiment. Far too many retail Forex traders concentrate on just one aspect of trading, technical analysis, and ignore everything else; it is my goal (and vision) to educate every trader on how to take advantage of news trading and become more balanced traders.

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