The non farm payrolls is one of the important numbers the FOMC will be looking at for the potential rate hike two weeks from now.
I decided to place my straddle at 9:28pm with the following details: –
Sell EURUSD, Stop if Offered: 1.0880
Spot: 1.0900
SL: 1.0900
As it turned out, NFP came in higher at 211 versus forecast of 201, more importantly, last month’s number was adjusted upwards from 271K to 298K.
Unfortunately, the EUR whipsawed, my trade was triggered at 1.0877 and it was squared at 1.0907 for a trading loss of 30bps.
You can’t win all the time.
EURUSD is now hovering at 1.0877 @ 9:45pm.
Ok going to shut down for the week. Here’s wishing all a great weekend.
The Panthenon Investment Group 