Given that the Federal Reserve is poised at raising interest rates this year as stated by Janet Yellen, clearly, all eyes are on employment data, GDP growth and consumption.
Today’s non farm payroll numbers is strong or weak will be a market mover. Wednesday’s ADP was an indication though a marginal one.
I decided to place my bets on a strong non farm payroll number and did a stop if offered sell EURUSD and GBPUSD with the following at 8:20pm: –
EURUSD – Spot at 1.1222, Sell Stop if Offered at 1.1190
GBPUSD – Spot at 1.5329, Sell Stop if Offered at 1.5300
The non farm payroll number came out strong at 280K verusus expectations of 222K.
EUR and GBP crashed.
I squared my positions half an hour later at 1.1100 and 1.5238 for a trading profit of 90bps and 62bps respectively.
Not bad!
The Panthenon Investment Group 