Tuesday, October 6, 2009

U.S. Non-Farm Employment Change To Dominate Today’s Trading.....forex

U.S. Non-Farm Employment Change To Dominate Today’s Trading.....
Today’s U.S. Non-Farm Employment Change data release is set to dominate the trading between the Dollar and its major currency pairs. A number of other factors are also likely to impact the forex market today, such as the publication of German Industrial Production at 10:00 GMT. The results of today’s data are likely to determine the USD’s trend going into next week’s trading.
12:30 U.S. Non-Farm Employment Change• This indicator reflects the change in the number of employed people during the previous month, excluding the US farming industry.• The indicator typically creates a volatile trading environment, affecting not only the USD crosses but also the value of Crude Oil and Gold.• Disappointing results could send the EUR/USD pair above the 1.4500 resistance level.• Traders may find good opportunities to enter the market following this vital release, and probably the most important announcement of the month.
Tips on Crude Oil
• Oil prices were practically unchanged at yesterdays during close, as the black gold dropped from yesterday’s highs.• A rebounding Dollar put pressure on Oil as investors moved away from riskier assets and into safe-haven currencies.
• As for today, the economic figures coming out of the U.S. and Europe are likely to impact the volatility of oil prices. Special attention to U.S Non Farm Payrolls at 12:30 GMT.


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    This sounds easy enough to achieve forex profit, however nothing could be further from the truth – it’s very hard and most traders simply can’t achieve it.
    Let’s take a closer look at the problems associated with operating in an unstructured environment



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