Non Farm Payroll Lower Than Expected; Added 121,000 Jobs in June.
My prediction for the NFP was 85'000. It came out 121'000. Yes, I'm might have missed the numbers but I definately did not got the whole picture wrongly which painted up to perfection of USD bearish.
On July 5th after the Independance day, ADP, the world's biggest paycheck processor, and Macroeconomic Advisers LLC in St. Louis, estimated the U.S. economy added 368,000 jobs in June. That speculation has caused USD to gain considerably great amount of pips from the EUR/USD. It's somehow like the party is setting up the USD to fall today. However, Hourly earnings rose 3.9 percent from June 2005 and the unemployment rate stayed at 4.6 percent marking the increase the most in five years. From the overall view of the current economic release, the sentiment has not been dollar bearish even with higher wage inflation numbers. But 1 factor still worries me alot is the high oil prices which has again broke a fresh high of $75.50 per barrel today following with the weak dollar.
For the Eurozone, we only have the German industrial production increased the most in a year in May, further evidence that Europe's largest economy is weathering higher interest rates, record oil prices and a stronger euro. Global demand for German goods is fanning investment at home, boosting hiring and consumer spending. Accelerating economic growth in the dozen euro nations prompted European Central Bank President Jean-Claude Trichet to signal yesterday that the bank may step up the pace of rate increases to damp inflation.
The chances of the Fed raising interest rates early next month has now dropped to a probability of 50-50. But chances from the way I'm seeing it, a pause is on a higher probability because the Federal Reserve has already decided to be focusing on growth as well instead of inflation alone. This will cause a big shift of sentiment among traders because 17 consecutive interest rate hike will definately 'injure' the economic even back then it was robust enough to withstand it. I'm still targetting and expecting 1.30 or higher for EUR/USD within 2 months. If the sentiment remains the way it is right now.
For my live account, I've placed a trade at 1.2870 which has yet to be taken. Nothing much happened for the live. For my demo, I made some recovery on my account after losing a whole bunch of it yesterday after I hold 1.2770 from yesterday, closing at 1.2830, 60 pips profit with $730 per pip, totalled $43800. I'm still looking to make money everyday in the demo account on scalping 10 pips a day minimum from EUR/USD with maximum leverage.
May the Forex God and the Lady Pips stay by my side at all times.
On July 5th after the Independance day, ADP, the world's biggest paycheck processor, and Macroeconomic Advisers LLC in St. Louis, estimated the U.S. economy added 368,000 jobs in June. That speculation has caused USD to gain considerably great amount of pips from the EUR/USD. It's somehow like the party is setting up the USD to fall today. However, Hourly earnings rose 3.9 percent from June 2005 and the unemployment rate stayed at 4.6 percent marking the increase the most in five years. From the overall view of the current economic release, the sentiment has not been dollar bearish even with higher wage inflation numbers. But 1 factor still worries me alot is the high oil prices which has again broke a fresh high of $75.50 per barrel today following with the weak dollar.
For the Eurozone, we only have the German industrial production increased the most in a year in May, further evidence that Europe's largest economy is weathering higher interest rates, record oil prices and a stronger euro. Global demand for German goods is fanning investment at home, boosting hiring and consumer spending. Accelerating economic growth in the dozen euro nations prompted European Central Bank President Jean-Claude Trichet to signal yesterday that the bank may step up the pace of rate increases to damp inflation.
The chances of the Fed raising interest rates early next month has now dropped to a probability of 50-50. But chances from the way I'm seeing it, a pause is on a higher probability because the Federal Reserve has already decided to be focusing on growth as well instead of inflation alone. This will cause a big shift of sentiment among traders because 17 consecutive interest rate hike will definately 'injure' the economic even back then it was robust enough to withstand it. I'm still targetting and expecting 1.30 or higher for EUR/USD within 2 months. If the sentiment remains the way it is right now.
For my live account, I've placed a trade at 1.2870 which has yet to be taken. Nothing much happened for the live. For my demo, I made some recovery on my account after losing a whole bunch of it yesterday after I hold 1.2770 from yesterday, closing at 1.2830, 60 pips profit with $730 per pip, totalled $43800. I'm still looking to make money everyday in the demo account on scalping 10 pips a day minimum from EUR/USD with maximum leverage.
May the Forex God and the Lady Pips stay by my side at all times.
posted by 4xTrader at
11:44 AM
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