Forex Fundamental Trading with US Nonfarm Payrolls
Today, 2 Major Economy’s Data is going to be released at 13.30 GMT. Because of the importance of the News, so much impact will be there in some Charts. Beware of US and CAD Charts.
At 13.30 GMT, USA Non-Farm Employment Change and Unemployment Rate Data is going to be released. Previous Non-Farm Employment Change figures were 214K and expected figures are 231K. If the actual figures differ from expected, we can see some moves. If the actual figure is more than expected, US Dollar is going to be strong and if it is less than expected, US Dollar is going to be week.
Previous Unemployment Rate was 5.8 and expected rate is also 5.8. If the actual rate is less than 5.8, US Dollar is going to be strong and if it is above 5.8, US Dollar is going to be week.
If we get mixed Results, we may witness some Whipsaws.
We have Canada Employment Change and Unemployment Rate releases also today at 13.30 GMT. Canada Previous Employment Change figure was 43.1K and expected is 5.1K. Previous Unemployment Rate was 6.5 and expected is 6.6.
We can see some Big moves in USD and CAD Pairs today. Fundamental Traders be ready for the Party and Technical Traders, especially Intra-Day and Swing Traders be away from Market.