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Nfpday

USD/JPY SHORT NFPHello everybody ! Today is NFP day !!! This Friday’s non-farm payrolls report will be the first monthly labor market number to show the COVID-19 impact. Economists are looking for only a 100,000 decline in payrolls because NFPs are measured as of March 12. The first state-wide stay-at-home order was not issued by California until March 20 and quickly spread across the nation in the days that followed. By the end of March millions of U.S. businesses were shuttered but may not have laid off their employees until the end of the month. As a result, we will not see the full extent of the damage until revisions are released next month and the April numbers will be ugly. Numbers like this puts the U.S. economy at serious risk of recession especially as lockdown measures are extended to April 30, and will most likely extend well into May. In addition to a forecasted 100,000 drop in NFP, the unemployment rate is expected to jump to 3.8% from 3.5%, while average hourly earnings growth should slow to 0.2% from 0.3%. USD/JPY will be the most sensitive to these numbers but there could be other opportunities as well. If non-farm payrolls fall by 100,000 or less and the unemployment rate declines to 3.7% or better, the U.S. dollar will rally but the gains should be short-lived as investors eye any good numbers with skepticism. Selling USD/JPY on a bounce should be the right move. Personally I'm aiming around 20-25 pips on that news. It's important to keep the risk management in mind so we are here to make money not to lose money so, if you aren't sure about news, it best for you to stay away. PROTECT YOUR CAPITAL !!! Have a good day and a wonderful weekend ! Please hit the like and follow button !
Short
by Andrei_C
1
Watch how Gold drops on NFP!NFP trade ⚡️ Guys I guess you are ready to trade NFP today. Moreover you could have already notice that I’m a big fan of Gold and today’s trade is no different. I’m going to trade NFP on Gold. First observation - Gold swaying near 1550 looks quite balanced and prepared for the event. Something tells me there should be some good reaction we have to be ready to catch it! So basically my forecast of today’s NFP figure is positive surprise (above consensus of 164K) and hence negative reaction of Gold. In the very primitive but still working reasoning, strong NFP is a sign of economic expansion => hawkish Federal Reserve = > stronger Dollar 💪. The Fed made it clear it's done with rate cuts so basically fundamental bias is now to the upside. Why I think that December NFP is going to be strong: - Initial Jobless Claims: Very good December downside trend which means less and less people claim unemployment benefits in the US. - Non-Manufacturing ISM: 55.5 points vs 54 points expected. Recall also that 80% of labor force work in the services industry in the US. - Positive expectations from the signing of the trade deal between US and China. For firms it is a strong signal to increase hiring, Capex. - Unusually mild weather in December - more hiring in construction sector. The trade setup 💰 Sell XAUUSD from current levels ($1550) Take Profit - 1540.50 Stop loss: 1553.50 Risk reward ratio: 1 : 3 Please support my sh*t with likes!!! :D
FX:XAUUSDShort
by PipVision
USDCADNFP & CAD news at the same time today, this pair is lookign very intereting to look at as the news hits. As we know, institutions use news as an excuse to move price to it's intended targets where they can mitigate out of or get closer to mitigation. We have an open order just below 31975 and also imbalance we could target for entry to the upside before we see a potential long term sell off. DXY also looking like a simialr set up which I have been anticipating for some weeks now. PATIENCE - CONFIRMATION - ENTRY - PROFIT
by jedahs
ORBEX: GBPUSD, USDCHF - Another Fed Cut?, BoJo's Plan Falls FlatIn today's #marketinsights video recording I analyse #GBPUSD and #USDCHF #GBPUSD moves on: - BoJo plan optimism on Commons - BoJo plan falling flat on Good Friday agreement threat - BoJo plan creates new borders, still seen as backstop #USDCHF looking bearish on: - Weak ISM NMI - Increased chances of rate cuts - HIgher fears of recession All eyes on NFP today! Can watch live here: www.orbex.com Stavros Tousios Head of Investment Research Orbex This analysis is provided as general market commentary and does not constitute investment advice
by Orbex