Australian Employment Change – May 9, 2012 – Forex News Trading

australia Australian Employment Change   May 9, 2012   Forex News TradingAustralia Employment Change is similar to U.S. NFP (Nonfarm Payroll) and Canada Employment Change, this is an economic indicator for the Employment Changes in Australia, here´s the forecast:

9:30pm (NY Time) AU Employment Change
Forecast -4.2K Previous 44.0K
AU Unemployment Rate
Forecast 5.3% Previous 5.2%
DEVIATION: 25K  (BUY AUD @ +20K / SELL AUD @ -30K)

The Trade Plan
The deviation that we are looking for is at least of 25K. Historically a 25K~30K of difference has produced about 40~50 pips of movement in the direction of the difference about 75% of the time. Expect to see the effect of this news to last minimum 45 minutes to 2 hours; typical news effect should last under 2 hours. One other important news to pay attention to is the Unemployment Rate, which is expected to be at 5.2%. If we don´t get a conflict with the Employment Change, then we will proceed with the trading plan.

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We´ll look to trade this using after news retracement trading method, we´ll wait for the market to retrace and stay out of the market during the release time. If we get a +20K of release, our bias will be to BUY AUD against other currencies; if we get a -30K of release, our bias will be to SELL AUD against stronger currencies.  We´ll only enter after we see a decent retracement from the initial spike and if we get those release numbers…  Please refer to the recommended pairs for best results.

For more information on my trading methods:
http://www.currencynewstrading.com/how-to-get-started-with-news-trading/

DEFINITION
“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.”

Thanks,

henry sig Australian Employment Change   May 9, 2012   Forex News Trading

Avatar of Henry Liu 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.

You can find more information about me on my Google Profile.

Comments

  1. avatarpeter cham says:

    Thank you Henry,I will follow yr advise,tq

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