Friday, August 7, 2015

EUR/USD strategy based on August 7th NFP Data

 US Non farm payrolls and employment report data 7 August 2015

  • Prior 223k. Prior revised to 231k, average number close to previous
  • Unemployment rate 5.3% vs 5.3% exp. Prior 5.3%
  • Average hourly earnings 0.2% vs 0.2% exp m/m. Prior 0.0%
  • 2.1% vs 2.3% exp y/y. Prior 2.0%
  • Avg working hours 34.6 vs 34.5 exp. Prior 34.5
  • Participation rate 62.6% vs 62.6% exp. Prior 62.6%
  • Private payrolls 210k vs 212k exp. Prior 223k. Revised to 227k
  • Manufacturing payrolls 15k vs 5k exp. Prior 4k. revised to 2k
  • Government payrolls 5k vs 0k prior. Revised to 2k
  • U6 unemployment rate 10.4% vs 10.5% exp. Prior 10.5
On the face of it it's an on the money number but the revision is adding some positivity. The working hours tick up is the first jump for 4 months
We look to be trading some relief that things aren't worse, rather than because it's a great report. It's actually a steady number but I'll get the rest of the details up so we can have a look
 EURUSD has fallen to 1.0861 which is old support. 1.0840/45 is another level to watch if we carry on lower and the big level is 1.0820/25. Far below support 3 lines on  1.0800/1.0780 area. It need close above 1.0900 area to counter bearish trend

No comments:

Post a Comment