Crypto Market Changes The Trend
Happy Tuesday, dear traders! Here’s what we follow:
First NFP in 2022 Can Rock the Markets
Information is not investment advice
What will happen?
The US will reveal Non-farm payrolls on January 7, Friday, at 15:30 GMT+2 (MetaTrader time).
Why is it important?
The NFP is one of the leading indicators of employment that represents the economic activity of the USA. Additionally to it, the average hourly earnings and the unemployment rate are released at the same time. The whole NFP event usually grabs traders' attention and thus creates big moves!
What happened last time?
Last time, both the NFP and the average hourly earnings fell short of analysts’ expectations except the unemployment rate, which was better than expected. As a result, USD/JPY briefly jumped but then dropped sharply by over 1000 points! Those traders who opened the short positions with one standard lot just after the release and placed Stop Loss at the previous high of 113.635 could have earned nearly $850!
How to trade on the NFP data?
Open the economic calendar a few days before the release and check the forecast. If it is significantly higher than the previous figures, the USD can start rising before the event, and vice versa. Then, wait for the actual results to come out. Here is the general rule.
- If the actual figures exceed forecast levels, the USD rises, and gold falls.
- If the release disappoints, the USD falls, and gold rises.
Instruments to trade: all the major pairs and XAU/USD
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Crypto Market Changes The Trend
Happy Tuesday, dear traders! Here’s what we follow:
The US Labor Market And Real Estate Market Are In Focus This Week
Labor Market and Real Estate Market data was published yesterday. Markets are slowing down, so the economy is in recession. Today the traders should pay attention to the Retail sales in Canada.
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