Archive for the ‘trading news’ tag
The Positive Results Of Non Farm PayRoll
I wasn’t really following the chart last, the week of the Non farm payroll of Dec 2009. Most of the currency pairs had a big reversal candle i.e a pin bar, in the previous week. The biggest was in GBP-JPY. So before the announcement of the non-farm payroll values, the currencies were either bullish or bearish, depending on the pin bar that formed. For the GBPJPY, it was already bullish that week.
The NFP (non-farm payroll) showed the the unemployment rate decreased in America. It went from 10.2% to 10%. This is dollar bullish. Since the values of the NFP were positive, GBPJPY went higher. The market never lies. I believe it already had a hint that the NFP would be bullish, that was why it showed a daily pin bar in the previous week.
For now, GBPJPY has almost given back what it gained. It is down. this is a chart of it now.
Unemployment Rates Drops In July
The unemployment rate was released on Friday, 7th August. The unemployment rate was 9.4%. The unemployment rate for June was 9.5%. And it was forecast that the rate for July would be 9.6%, but the analysts were wrong. It came out to be less than the forecast, and it was lower than June rate. This means that the U.S economy is getting better.
Traders were expecting the results to be bad. You can see why I am saying this (look at the charts).
