Every first Friday of the month,
investors prepare for what is classed as the major mover of the month.
Over the last couple of months the NFP has received center of
attention, as the numbers have been showing less employment and higher
unemployment. Today during the U.S’s pre-market hours the Bureau of
Labor Statistics is scheduled to release its results, showing that the
unemployment rate has jumped to 9.2%, while the NFP has dropped by
-520k. Even though the two results are expected to have a large impact
on the intraday session, many are now questioning whether they will
have an impact on the overall trend. One must note the following:
- Certain sectors are starting to pick up, showing improving data
- According
to expectation, the unemployment rate is expected to reach a double
digit number. Is that already baked into the market’s price? - U.S equities are still climbing higher.
For those of you who are day traders,
today’s session could present a dramatic move. Those who are more swing
traders should observe the price pattern carefully, watching for a
reversal on a daily chart, as the volatility could turn out to be only
a minor intraday thing.
Read the full article at dodjit.com
