User:Anissaxbrookst
Considering that close to 60% of all FX market volume is cleared through just six top banks, we see it money market prudent to be on the same side of the trade as major institutions and will favor a bullish bias on EURUSD ahead of the data release. Dollar may face increased selling pressures over foreign exchange currency converter the next 24 hours of trading as economists forecast non-farm payrolls to drop 650K in February, which would be the biggest contraction in employment since 1949, while the kki forex rates jobless rate is expected to reach a 25-year high of money market 7.9% during the same period as firms continue to slash their labor force in an effort to reduce costs. Our second target will be based on discretion, and in order to preserve our profits, we will move the second lot to breakeven once the first trade reaches its target.
Once these conditions are met, we will place our initial stop at the nearby swing low (or reasonable distance), and this risk will determine foreign exchange our first target. On the other hand, the Fed � Beige Book stated that the central bank has seen � rising layoffs � and an increase in unemployment throughout the region, which only best foreign exchange reinforces expectations learn forex currency trading for a dismal payrolls reading. Increasing volume ahead of the announcement will telegraph likely follow-through behind whatever move is to materialize, while forex broker canada an imbalance in available liquidity on the Bid versus the Offer side of the market will tell us the direction major institutions are likely favoring ahead of the announcement. Payrolls Fall Less Than expected - Stronger Than Expectations
Outlook For Growth Falters � Lower Than Expectations
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headlines to your personalized foreign exchange My Yahoo. What To Look For forex live prices Before The Release
Traders with access to market depth information via the FXCM Active Trader Platform may use it to gauge the potency of the economic data forex prices release as well as to shed some light on the market � directional bias. The preliminary GDP reading for the U.S.
Nevertheless, as President-elect currency trade pledges to save or create 3M jobs over the next two-years, efforts by the new Administration could certainly help to mitigate the downside money market risk risks for growth, but may have little or no impact on the real economy as it faces its longest recession in a quarter century. Expectations for a 650K drop in employment clearly favors a bearish outlook for the dollar, but the unexpected rebound in service-sector forex trading advice employment has left the door open for an enhanced NFP reading. Trading the Non-Farm Payrolls currency trade Report
The U.S. Fell 598K in January, which was the biggest monthly decline since 1974, and raised the annual rate of unemployment to a 16-year high of 7.6% from 7.2% in the previous month. US Change in Non-Farm Payrolls
Time of release. Therefore, if payrolls fall less that 600K, we will look for a red, five-minute candle following the event to confirm a sell entry on two lots of EURUSD.
Bearish Scenario:If we see substantially deeper available liquidity on the Offer currency market side of the market, this tells us that major price providers retail forex broker in the market are looking to sell the Euro against the US Dollar. Bullish Scenario:If we see substantially deeper available liquidity on the Bid side of the market, this tells us that major price providers in the market are looking to buy the Euro against the US Dollar. 03/06/2009 13:30 GMT, 08:30 EST
Impact the US NFP report had on EURUSD through the last 2 months
Payrolls in the U.S. The ISM manufacturing report for February sho that the employment component forex trading fell to its lowest level since forex margin trading recordkeeping began in 1948, while the ADP labor report released earlier this week sho that private-sector employment dropped another 697K during the same period after falling 614K in the previous month. As fears of a deepening recession intensify, firms are likely to cutback on production and employment in an effort to reduce costs, and the labor market is expected to weaken further throughout 2009 as the world � largest economy faces its worst financial crisis since forex currency rates the Great Depression. Dollar is likely to hold its bullish trend over the near-term as the reserve currency continues to benefit from safe-haven flows.
A report by the Conference Board sho that consumer confidence fell to its lowest level since recordkeeping began in 1967, which foreshadows a weakening outlook for private-spending, and the outlook for improved growth remains bleak as turmoil in the banking sector intensifies. Furthermore, jobs cuts in February increased 158.49% automatic forex trading software after rising 222.40% in the previous month, and the labor market is likely to weaken further throughout the year as the world � largest economy faces its worst economic slump in over a quarter century. Meanwhile, the FOMC lowered their outlook for growth as the central bank projects unemployment to � rise significantly into 2010, � and as signs of a deepening recession emerge, policy foreign exchange trader makers may continue to step up their efforts in order to soften the landing of the economy. The data certainly reinforces the dire state of the economy, and fears of a prolonged economic downturn is likely to stoke increased pressures for the U.S. Considering that close to 60% of all FX market volume is cleared through just six top banks, we see it prudent to be on the same side of the trade as major institutions and will favor a bearish bias on EURUSD ahead of the data release. Meanwhile, as the FOMC holds a dour outlook for growth forex online chart and inflation, and is expected to hold the benchmark interest rate at the record-low for � some time � , the unprecedented use of the central bank � balance sheet paired with the rise in the government � budget has stoked fears that the aggressive measures taken on by policy makers could pose threats for long-term stability, which could weigh on the appeal of the greenback treasury money market funds however, as risk sentiment continues to dictate price action in the currency market, the U.S. Dollar may face increased selling pressures over the next 24 hours of trading as economists forecast non-farm payrolls to drop 650K in February, which would be the biggest contraction in employment since 1949, while the jobless rate is expected to reach a 25-year high of 7.9% during the same period as firms continue to slash their labor force in an effort to reduce costs.
The world � largest economy shed another 524K jobs in December to raise the 2008 total to 2.589M, which raised the jobless rate to a 15-year high of 7.2% from a revised reading of 6.8% in November, and marked the biggest annual contraction in employment since 1945. Sho that the annual rate of growth slipped 6.2% in the fourth quarter, which is the biggest economic contraction since 1982, and the data continues to reinforce fears of a deepening recession as households turn increasingly pessimistic towards the economy. Congress to approve President Obama � $900B stimulus package, which should help to mitigate the downside risks for growth, but as the banking sector remain under pressure, the outlook for improved growth remains bleak. As a result, an in-line print or a drop of more than 650K in jobs will lead us to short the dollar, and we will follow the same strategy for a long euro-dollar position as the short trade listed above, just in reverse.
