Carry out the best trades right after the release of the Nonfarm Payrolls data on Friday 8 July at 12:30 GMT. As the UK stepped out of the EU, the market reacted in a frenzy mode as currencies began to be pulled lower to their respective support lines. The US dollar was not spared either.
Last month, NFP numbers were recorded at a whopping low of 38K from a previous reading of 123K and the readings were too colossal for the market to handle. Thereafter, the USD fell against most of its major currency peers while the US dollar index displayed more losses. The event even curbed Fed’s inclination towards the probable rise in interest rates.
What can you expect?
Market analysts are expecting NFP numbers to rise back higher and attain around 164K, which is quite difficult to achieve. Taking into consideration the current market turmoil, even the job market indicators are not supporting the U.S. economy. Get ready for more action by catching the NFP webinar on Friday 8 July 2016 at 10:00 AM – 11:00 AM GMT, right before the data release.
If the NFP reading is Positive / bullish :
CALL USDJPY /USDCAD (First 15 minutes after release)
|CALL Dow Jones /S&P 500|
|PUT EURUSD/ GBPUSD|
|If the NFP reading is Negative / bearish:||CALL EURUSD / GBPUSD|
|PUT USDJPY / USDCAD (First 15 minutes after release)|
|PUT S&P 500 / PUT Dow Jones|
Hop on the webinar to know why and when you should turn the NFP event in your favor.