There was so much talk leading up to the NFP today. My gut feel told me that it would be a market mover……….hmmmm……which way would be the real question?!
I felt that the NFP number would come out, as the summer months tend to post stronger numbers.
So I decided to place Stop if Offered trades about 20 bps OTM from the spot rates of GBPUSD, EURUSD and AUDUSD.
5 minutes after the announcement that NFP was 248K and unemployment rate at 5.9%…..Wow………market just sold off on the majors between 50bps to 80bps.
I immediately squared off my three trades and locked in a trading profit of 103bps.
I am now done for this week. Will update the earlier trades for the month of August and September next week.
Here’s wishing all a great weekend.
The Panthenon Investment Group 