UK NFP Coming Up, but Don’t Expect Fireworks Unless…
Skerdian Meta • 1 min read
The US unemployment claims, which are the most important economic release in the US trading session, will be released soon. They come with the import prices and Philly FED manufacturing reports.
I don’t see major impacts on the forex market, especially from the unemployment claims. Non-Farm Payrolls and unemployment claims used to be among the most import economic releases a few years ago which had a huge effect on the forex market. But things have changed; forex always changes – that’s why not everyone makes it.
We must adapt to the changes if we want to survive. Adapting to this data means taking it easy when they get released. Unemployment claims have been around the 220-240 region all year, and I don’t expect any big changes today.
I would have liked a distorted number, either higher or lower. That would send the USD up or down 30-50 pips maximum, which would be a good opportunity to move.
So, if the US unemployment claims miss or beat expectations and the USD moves, then I will look to reverse that move, probably in EUR/USD or USD/JPY, hang on.