Monday, 21 October 2013

The delayed non-farm payroll report to be released tomorrow 22 Oct 2013

The delayed non-farm payroll report is to be released tomorrow. With the US Federal Govt now open some of the data that was supposed to be released earlier is due this week. One such data is the non-farm employment change and another is unemployment rate.  

What it measures is "Change in the number of employed people during the previous month, excluding the farming industry". Usually its released monthly, on the first Friday after the month ends. This month however, due to the US Fed Govt shut down this was delayed by 18 days leaving the market in a bit of doldrum but not that much. I'd rather say it left an "information gap" in the market. 

The market this week, as reported by many reputed forex related websites, is expecting a considerable change which may bring some volatility into the market. Job creation is one of the most important leading indicators of overall economic activity. 

The release of this data, the US Non-Farm Employment Change is highly anticipated by the markets. Any unexpected reading could affect the direction of EUR/USD. As you all know we have a specific strategy for taking advantage of such volatility in the markets using EUR/USD as our trading vehicle. So lets be alert for this news release tomorrow and hope that we can catch some decent setups and ride the wave until it ends...  
Log into our forum or come into the Chatroom tomorrow...

May the pips be with you! 


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