« The ECB kills EUR/JPY as it lowers Interest Rates and “Hints” that more could be on the Way! | Home | EUR/JPY gains almost 100 pips since post this morning! »
As you get ready for tomorrrow’s Non-Farm Payroll report, keep this in mind!
By Sean Hyman | March 5, 2009
If there’s one unfortunate trend that has persisted and been way too consistent, it’s the rise in Unemployment (Jobless) Claims in the
See the chart below. Click on it to enlarge it.
In a “normal market”, the increase in unemployment would kill the dollar. However, right now as unemployment claims rise around the world, money has run to the “safe haven” effect of the U.S. dollar.
That has produced the weird theme of “unemployment higher, dollar higher”.
If you’ve never seen how the EUR/USD, GBP/USD, etc. trade during NFPs, you owe it to yourself to open up a demo account and watch it and even trade it. Get your demo before the event here.
Remember that the NFP report comes out at 8:30 am EST on Friday. It will state the number of jobs gained or lost (in actual numbers, not percentages) and also what the unemployment rate is (percentage wise).
The latest assessment from economists have them expecting a loss of roughly 650,000 jobs and for the unemployment rate to further increase to 7.9% from its present 7.6% rate right now.
Tags: account, currency, demo, dollar, education, euro, forex, fx, fxedu, market, NFP, payrolls, pound, Sean Hyman, spot, U.S.
Topics: What To Look At In The Market | No Comments »