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Hello Duka trader
Today the last trading day in th the first week we see today NFP
so here is a picture of the number in chart
The consumer was in a bit of a sour mood in November but that's more of a leading indicator while employment is lagging. Consumer surveys from the Conference Board and U Mich were soft and so were car sales. It doesn't bode well for the future but for this month it's probably not a factor.
On the upside the Fed's Beige Book, which was collected up to Nov 24, was positive on employment, especially hires at temp agencies and part time. That may simply be a reflection of the strong October report but it's an upside risk for non-farm payrolls.
Overall, I'm not a fan of gambling on a number like this. It's very hard to get an edge from other employment indicators and outliers are an ever-present possibility. I like trades ahead of the numbers and immediately afterwards, but holding a position through the trade is an unnecessary risk.
Source : Forex live
Today the last trading day in th the first week we see today NFP
so here is a picture of the number in chart
The consumer was in a bit of a sour mood in November but that's more of a leading indicator while employment is lagging. Consumer surveys from the Conference Board and U Mich were soft and so were car sales. It doesn't bode well for the future but for this month it's probably not a factor.On the upside the Fed's Beige Book, which was collected up to Nov 24, was positive on employment, especially hires at temp agencies and part time. That may simply be a reflection of the strong October report but it's an upside risk for non-farm payrolls.
Overall, I'm not a fan of gambling on a number like this. It's very hard to get an edge from other employment indicators and outliers are an ever-present possibility. I like trades ahead of the numbers and immediately afterwards, but holding a position through the trade is an unnecessary risk.
Source : Forex live
