For US, Non Farm Payrolls Released by US dept of Labor. It represents the number of new jobs created in non agricultural sector. The 30,000 figure last month was a significant outlier and the market is expecting improvement this month.
Buying the currency EUR/USD , at resistance 1.1241 and 1.1290 can be profitable,
taking the support at 1.1206 and 1.1184
NOTE : As I always say manage your risk. Use Money Management and Risk Management in your trades.
Other Than This Major News Released Today is Employment Change and Unemployment Rate for CAD Unemployment Rate and Average Hourly Earnings for USD
While I’ve been trialling some approaches to day-trading I watched the last NFPR live, something I haven’t done for years, if ever.
On a daily chart these events aren’t very visible and don’t usually end in a reversal. However, if you have short-term positions with appropriate stops to that time-frame, the volatility and increased spreads around these releases can mean that entry or stop-loss orders are triggered which did not really deserve to be. For me this is too much risk of opening positions I didn’t want to open and closing positions I didn’t want to close. The risk is simply not justified by the potential reward, when you look at it on a monthly basis.
Non-farm payroll is one of the important economic indicators for the US. It is closely watched by market as it points to earnings figures as well as potential move in inflation. So, market will react if non-farm payrolls are posted as different figure from market current expectations