7:00am (NY Time) CA Employment Change Forecast -12.4K Previous -44.5K
“Measures the change in number of employed people during the previous month. A rising trend has a positive effect on the nation´s currency. Job creation is an important indicator of economic health because consumer spending, which is highly correlated with labor conditions, makes up a large portion of GDP. This report is the first of the month that relates to labor conditions, making it susceptible to big surprises.”
Release was much better than expected, but market failed to act with momentum. I took a trade off from the retracement and ended up closing the trade with 1+ pip of profit. However, it is a great lesson as I show how it is with news trading. I recommend that you take a few minutes and watch this video.