Forum on trading, automated trading systems and testing trading strategies
newdigital, 2014.04.04 09:49
Trading the News: U.S. Non-Farm Payrolls (adapted from dailyfx article)
The U.S. Non-Farm Payrolls (NFP) report may in still a bullish outlook
for the dollar (bearish EUR/USD) as employment is expected to increase
another 200K in March, while the jobless rate is anticipated to narrow
to an annualized 6.6% from 6.7%.
Why Is This Event Important:
Indeed, a material pickup in job growth may put increased pressure on the Federal Open Market Committee (FOMC)
to normalize monetary policy sooner rather than later, but the reserve
currency may struggle to hold its ground should the NFP report dampen
the outlook for growth and inflation.
The resilience in private sector consumption along with the ongoing
decline in planned job cuts may generate a positive employment report,
and a large uptick in job growth may highlight an improved forecast for
the USD as the Fed continues to see a stronger recovery in 2014.
Nevertheless, the persistent slack in the real economy paired with the
downtick in business confidence may drag on NFPs, and a dismal print may
trigger a sharp selloff in the greenback as it weighs on interest rate
How To Trade This Event Risk
Bullish USD Trade: NFP Climb 200K+; Unemployment Slips to 6.6%
U.S. Non-Farm Payrolls (NFP) February 2014 :
i use pending orders in the trading non-farms news.
1. sell stop - with 50pips tp
2. buy stop - with 50 pip tip
All orders should be placed at the same time there is a probability it will go either direction - 'short and long' at the same time.
NFP, some time market move two side, buy stop or sell stop method both tick and sl hit.
spread wide by most broker,it hard to scalp during NFP
Yes, it will be at 12:30 GMT, or 14:30 MQ MT5 time :
2013-08-02 12:30 GMT | [USD - Non-farm Payrolls]
The strategy is very simple one for/during nfp: "if you do not know how to trade - stay away" :)