FX Trading Signals for Dec 08
We have a few reports coming out tonight. We have the German trade balance, Canadian housing starts, U.S. non-farm payroll, and U.S. consumer sentiment. I'll be keenly watching those data but NFP is the very most data to lookout for.
1. Friday, December 7th, 2006 (8:30 am New York Time) USA
We have non-farm payroll coming out. Expectations are at 100K. After the ADP Employment that came out at 158K, it seems like most people will be expecting a surprise on the upside rather than downside. If the NonFarm number comes out at 150K or higher, I may possibly go short on GBP/USD. If the number comes out at 69K or lower, I may possibly go long on GBP/USD. WATCH OUT FOR REVISIONS of previous number at 92K. If the previous revision comes out at 20K difference up or down and it's conflicting, exit immediately. Also, keep in mind the unemployment rate, which last month was at 4.4%, and now is expected at 4.5%. If the unemployment rate conflicts by at least 0.2% against the non-farm payroll, I will take my profits or losses, and exit the position.
1. Friday, December 7th, 2006 (8:30 am New York Time) USA
We have non-farm payroll coming out. Expectations are at 100K. After the ADP Employment that came out at 158K, it seems like most people will be expecting a surprise on the upside rather than downside. If the NonFarm number comes out at 150K or higher, I may possibly go short on GBP/USD. If the number comes out at 69K or lower, I may possibly go long on GBP/USD. WATCH OUT FOR REVISIONS of previous number at 92K. If the previous revision comes out at 20K difference up or down and it's conflicting, exit immediately. Also, keep in mind the unemployment rate, which last month was at 4.4%, and now is expected at 4.5%. If the unemployment rate conflicts by at least 0.2% against the non-farm payroll, I will take my profits or losses, and exit the position.
posted by Naveen Pantera at 10:34 AM
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