Dollar Emerges as the Winner Out of the Confusing NFP

February 5th, 2010 admin

American job figures came out very confusing. After some choppy trading, the market focuses on the bright side of the data and the dollar continues to rally. Note: This was initially written at 14:15 GMT. I’ll update this post as events unfold. Non-Farm Payrolls didn’t deliver a positive number . The US job market lost 20,000 jobs. The negative number was supposed to be the headline, but the Unemployment Rate stole the show with a drop from 10% to 9.7%. This 0.3% drop in unemployment rate is significant. It’s also a return to the single-digit unemployment rate which is also meaningful in a psychological manner. Forex market action EUR/USD began by falling, and…


Originally posted on ForexCrunch

Related Videos from Youtube

  • Daily Video Technical Update 3/8/20...
    Daily Video Technical Update: EUR/USD, GBP/USD, USD/JPY, USD/CAD Provided by FX Times/CMS Forex www.fxtimes.com http Analyst: Fan Yang, CTA
  • Forex Forecast - EUR/USD and USD/JP...
    Forex Forecast - EUR/USD and USD/JPY
  • EUR/USD, DAX...
    www.tradevestment.net http
  • Forex Education, CFTC, EUR outlook...
    www.forexoffice.ca Live Forex Trading Learning Room - Stan Kajzerek; Technical and Fundamental Analyst, Professional Forex Day-Trader, and Forex Coach; Free Forex Education
  • AM Forex Trading Outlook - dailyfx...
    Daily morning analysis of the US Forex market trading session with dailyfx Currency Strategist John Kicklighter. Includes coverage of economic and financial market news, as well as an outlook for the day ahead and trading ideas. www.dailyfx.com
  • forex trading - news trading UK Ret...
    UK retail sales is usually a high impact forex news that moves the currency market significantly, watch how I analyze the market, wait for proper retracement, and get in at the best optimal entry for a quick 50 pips of profit... market continue to move and gave traders that followed my signals even more pips... this is typical of what I do daily in my live forex trade room. Watch how I use Dual Fibonacci to get a laser focus entry in the video...
  • Forex News Strategy - Profit from R...
    RBA decided to hike rates unexpectedly, this surprised the market and gave us a chance to make tons of pips... watch how I traded this release live...
  • Forex news trading RBA Meeting Minu...
    RBA released its meeting minutes on October 5th surprise rate decision, watch how we were able to see through the news and called a SELL for immediate profit - all caught live!

More videos ...

 
  Related Posts
US Gained Jobs In November – Dollar Bulls Not Giving Up
NFP was a disappointment with a significant job loss. But looking at last month’s figure gives the dollar bulls some strength, especially against the Euro. Non-Farm Payrolls for December fell by 85,000. This was a big disappointment, as the market was expecting a balanced figure, and even a rise in jobs. The rise in jobs did come – but... 
Forex Daily Outlook – February 11th 2010
A busy day is expecting us. The focus is still on the Greek crisis – the market will move by the voices heard at the EU Economic Summit. There are lots of other figures elsewhere. Let’s see what’s up for today. Employment figures in Australia will rock the Aussie early in the day. Australian employment change is expected to show... 
Time for a Positive NFP
Non-Farm Payrolls must show gains in jobs this time – the high expectations became higher with the release of the ADP figure that was better than expected. Will there be dollar rally on Friday? Here’s a preview for the Non-Farm Payrolls for January. Last month’s Non-Farm Payrolls were disappointing and showed a loss of 85,000 jobs... 
Aussie Fights Back
The Australian dollar reminded us of its strength, riding north on another round of good employment figures. It’s now approaching an important resistance line. An update on this strong currency. The Australian unemployment rate fell to the lowest level in 11 months: only 5.3%. This exceeded expectations for a small rise from 5.5% to 5.6%. Contrary... 
AUD/USD Strong After Job Figures
Despite unexciting job figures from Australia, the Aussie held the higher range it broke to earlier this week . The strength continues. Here’s an update on AUD/USD. Only 200 jobs were gained in Australia in the month of February. This fell short of expectations that stood on 15,700 jobs. Australia’s Unemployment Rate remained unchanged... 
Canadian Jobs Lost – USD/CAD Leaps
Canada’s job market disappointed with a loss of jobs. The Canadian dollar weakens but holds to gains – USD/CAD doesn’t lose an important resistance line. At least not yet.  The Non-Farm Payrolls can take it anywhere. Canadian Employment Change showed a loss of 2,600 jobs. This small job loss isn’t devastating, but it falls... 
Dollar and Markets in Anticipation of NFP
The big day is here once again, with market participants ready to get all the information they need from the employment sector in US, as we have payroll data and unemployment rate. There are speculations that the unemployment rate will reach 26 year highs today, and this is what drives stocks and equities lower since early yesterday. The dollar has... 
The Pound Will Not Rise without Orders from King
The number of unemployed people fell again in Britain, quite impressively. This doesn’t seem enough for the Pound. The key is in the hands of Mervyn King, which sees the dark side of the economy. Claimant Count Change, the earliest and most important indicator for British employment, fell by 15,200 jobs in December. This is the second month... 
Superb Canadian Job Figures Save the Loonie
Excellent Canadian job figures send USD/CAD down just before the pair was about to breach an important resistance line, while other currencies bow before the greenback . With an unemployment rate of 8.3%, the US can envy Canada. This exceeded early expectations for a steady 8.5% rate. The Employment Change number is also superb: 43,000 jobs were... 
Aussie – Great Employment Numbers Aren’t Enough for a Break
Australian employment numbers were excellent, but weren’t enough for the Aussie – it failed to break the important resistance line for the second time this week. Double top? Or just a matter of time? Australia’s employment change figure showed a rise of 35,200 jobs. This was better than last month’s Aussie job figures and... 
  Related Tweets from Twitter
WealthGenTrader (LUIS ACOSTA)  : The EUR/USD moved higher after breaking above the trendline near 1.3680, and climbed into major resistance at 1.3799...
Updated : 2010-03-12T15:50:06Z   |  Reply  |  View Tweet
TBS_Broadcast (TheBrokerSite BC)  : [Networking/Telecom] WTB: 2, Brocade/McData/OEM, M48000 or OEM directors , Used, EUR/USD http://tinyurl.com/ya25dnt TheBrokerSite.com..
Updated : 2010-03-12T15:49:44Z   |  Reply  |  View Tweet
TBS_Broadcast (TheBrokerSite BC)  : [Server/Storage] WTS: 3500, IBM, LTO2 used tape media , Used, EUR/USD http://tinyurl.com/yzvg926 TheBrokerSite.com..
Updated : 2010-03-12T15:49:27Z   |  Reply  |  View Tweet
smradkay (Stephanie Radkay)  : Took profit on EUR/USD at 1.3754!..
Updated : 2010-03-12T15:47:12Z   |  Reply  |  View Tweet
arwa_forex (arwa forex)  : Technical Summary for Majors: EUR/USD Fresh strength has emerged from 1.3620 support, rallying sharply through 1.... http://bit.ly/c9mpYE..
Updated : 2010-03-12T15:46:53Z   |  Reply  |  View Tweet
  Related News from Digg
Leave a comment | Trackback
No comments yet.

Spam Protection by WP-SpamFree

TOP