We´ll be trading the US NFP (Nonfarm Payroll) Employment Change, it is the focus news release for the week. Here´s the forecast:
8:30am (NY Time) US NF Employment Forecast 150K Previous 120K
8:30am (NY Time) US Unemployment Rate Forecast 8.5% Previous 8.5%
ACTION: 220K SELL EURUSD / 80K BUY EURUSD
We´ll be getting the Canadian Employment Change release number tomorrow, here is the forecast:
7:00am (NY Time) CAD Employment Change Forecast 24K Previous 17.5k
Unemployment Rate 7.5%
ACTION: EURCAD SELL 50K / BUY USDCAD -5K
Our plan to trade today’s CPI release out of Australia will be to look for opportunities for entry if we get a surprise in this release, here is the current forecast:
8:30pm AU CPI q/q Forecast 0.2% Previous 0.6%
ACTION: AUD/USD BUY 0.5% SELL -0.1%
Australia Employment Change is similar to U.S. NFP (Nonfarm Payroll) and Canada Employment Change, this is an economic indicator for the Employment Changes in Australia, here´s the forecast:
7:30pm (NY Time) AU Employment Change Forecast 10.0K Previous -6.3K
AU Unemployment Rate Forecast 5.3% Previous 5.3%
ACTION: AUD/USD BUY 35.0K SELL -15.0K
We´ll be trading the US NFP (Nonfarm Payroll) Employment Change, it is the focus news release for the week. Here´s the forecast:
8:30am (NY Time) US NF Employment Forecast 150K Previous 120K
8:30am (NY Time) US Unemployment Rate Forecast 8.7% Previous 8.6%
ACTION: 220K BUY AUDJPY / 80K SELL USDJPY
We´ll be getting the Canadian Employment Change release number tomorrow, here is the forecast:
7:00am (NY Time) CAD Employment Change Forecast 18K Previous -18.6K
Unemployment Rate 7.4%
ACTION: EURCAD SELL 45K / BUY USDCAD -10K
The Trade Plan
The Canadian Employment Change report will be released at 7:00am sharp today. What I am looking for is a minimum deviation of around 25K, or the difference between the Forecast number (18K) versus the actual release number; if we get a positive 45K of release, we should see demand for the CAD rise, therefore we should SELL USD/CAD; however, if we get a negative deviation, such as -10K or worse, we should see some weakness in the CAD, and that will be my cue to BUY USD/CAD pair.
Australia Employment Change is similar to U.S. NFP (Nonfarm Payroll) and Canada Employment Change, this is an economic indicator for the Employment Changes in Australia, here´s the forecast:
7:30pm (NY Time) AU Employment Change Forecast 10.0K Previous 10.1K
AU Unemployment Rate Forecast 5.2% Previous 5.2%
ACTION: AUD/USD BUY 35.0K SELL -15.0K
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8:30am (NY Time) US Advance GDP q/q
Forecast 3.0% Previous 1.8%
ACTION: SELL ... (2190)
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