Sunday, April 06, 2008

Ok Traders, here are the NFP results from last friday. The US economy lost 80k last month as economists predicted a loss of only 35k jobs with a prior reading of -52k that was revised to a greater loss of -76k. Generally speaking, it was not as much of a disaster as it could have been. But the initial reaction was to sell dollars as EURUSD gapped to a 1.5770 high and USDJPY shot down to a 101.59 low. Back with you next week.

1 comment:

ab said...

Here is something that will hopefully be of help to you: I've recently created a free forex website that shows what has happened in the minutes and hours during past news announcments. For instance, if the USD Non Farm Payroll number is significantly better than expected, the USD will initally gain against the GBP and Euro in the minutes after the number is released, and then lose value shortly there after. Here is my site:
http://www.forexnewspatterns.com