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Daily Archives: January 8th, 2016

The entire market was looking out for non farm payrolls as an indication that the Fed’s decision was an appropriate one.

Alot of buzz in the media with estimates from 160K to 285K and an extreme one at 100K.

At about 9:22pm, I put in my straddle trade with the following details: –

Short EURUSD   –   Spot 1.0863, Stop if Offered 1.0840 and SL 1.0860

Long GBPUSD   –   Spot 1.4588, Stop if Bid 1.4620 and SL 1.4600

As it turned out, NFP came in a whopping 292K against expectations of 203K.  More importantly, previous month’s 211K was not revised.

This means jobs are well supported in the U.S. even during the lean months of the winter.

My EURUSD was triggered and I withdrew the GBPUSD order.

I squared the EURUSD at 1.0803 for a trading profit of 37bps, was expecting a bigger spike since EUR has been rallying the past two trading days.  Oh well, ok for the first trade in 2016!

Here’s wishing one and all a great trading year in 2016.

I will be wrapping up 2015’s performance shortly and also sharing my thoughts for this year.