The US Non-Farm Employment Change measures the change in number of employed people during the previous month, excluding the farming industry. 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.
The US NFP Employment change actual release number came out at 243K, much better than the expected 150K forecast; and unemployment was slightly lower at 8.3%. Despite an initial spike up on the EURUSD, Henry entered a sell on the EURUSD at 1.3177 because of the much better than expected US NFP numbers. In a few minutes, we closed 50% of the trade for 45+ pips of profit and moved the SL to break-even. In just a few more minutes, we closed the remaining 1/2 position at around 90 pips of profit; yielding a total of about 69 pips of profit.