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  • The Employment Situation - July 2013

    From bls.gov

    Total nonfarm payroll employment increased by 162,000 in July, and the unemployment rate edged down to 7.4 percent, the U.S. Bureau of Labor Statistics reported today. Employment rose in retail trade, food services and drinking places, financial activities, and wholesale trade. Household Survey Data Both the number of unemployed persons, at 11.5 million, and the unemployment rate, at 7.4 percent, edged down in July. Over the year, these measures were down by 1.2 million and 0.8 percentage point, respectively. (See table A-1.) Among the major worker groups, the unemployment rates for adult women (6.5 percent) and ... (full story)

waooo mixed data one red one green
now what?...
FOMC Member Bullard will move this currency again after 3 hours maximum trading ranges here....

http://4xchart.com/eurusd-weekend-rally-2-aug-2013/
Money is What Money Does
up down, up down, bet up, bet down.....lol
lets see market gives impartance to red data or green?
Heard a report a lot of low skill jobs being created among the 162,000 and that many have simply stopped looking (also affecting the unemployment rate). This is not positive news, but the Wall Street crooks will spin as they may.
The data save me from red to green...
mkt move u p in this hour dear
Imho the number of jobs created is less important than the jobless rate. The 0.2% improvement is what will be in the Fed's sights and ultimately the markets.
gold moving up fast
"Among the marginally attached, there were 988,000 discouraged workers in July, up by 136,000 from a year earlier. (The data are not seasonally adjusted.) Discouraged workers are persons not currently looking for work because they believe no jobs are available for them."

... and some say the economy is recovering.
Quoting Deano9999
Imho the number of jobs created is less important than the jobless rate. The 0.2% improvement is what will be in the Fed's sights and ultimately the markets.
No today, dear! :-)
QE wont taper in up coming talk...
market react on non form pay roll not on unemployment rate so enjoy and get some pips traders
so what happened with this mixed data? anyone?
  •  Guest
  • | IP XXX.XXX.243.115
market has move before the news,
UJ is came back from key resistance, next target is 96.70... goodluck.
https://my.hfm.com/en/hfcopy/provider-details.html?provider=78024851
Quoting ali awan
market react on non form pay roll not on unemployment rate so enjoy and get some pips traders
Agree. ..market are crazy...I dont believe those professional people talk...
Quoting Idoscon
gold moving up fast
Glad I woke up early to lock in a price on some physical before the print.
fuck to news trade
Quoting Deano9999
Imho the number of jobs created is less important than the jobless rate. The 0.2% improvement is what will be in the Fed's sights and ultimately the markets.
Spot on with that conclusion.

If we end the week with a weekly pin, you can kiss Eur goodbye on her trip south.
  •  Guest
  • | IP XXX.XX.136.210
Quoting JollyBean
"Among the marginally attached, there were 988,000 discouraged workers in July, up by 136,000 from a year earlier. (The data are not seasonally adjusted.) Discouraged workers are persons not currently looking for work because they believe no jobs are available for them."

... and some say the economy is recovering.
Glad someone is reading.
no market react same as market follow the news so mkt non hesitate any body and work out and done its job 70 percent on this hour and 40 remaining done on next hour
Quoting Guest
market has move before the news,
Only because of gamblers bargaining on a good number.
Quoting Deano9999
Imho the number of jobs created is less important than the jobless rate. The 0.2% improvement is what will be in the Fed's sights and ultimately the markets.
If its true and the next time it comes back it isn't 7.7%
Quoting ali awan
no market react same as market follow the news so mkt non hesitate any body and work out and done its job 70 percent on this hour and 40 remaining done on next hour
You cannot accept this as a fact my friend.
  •  Guest
  • | IP XXX.XXX.166.16
"Dollar bears getting reamed -- excellent, excellent!," he said as he rubbed his hands together with glee.
Impact losing strength?
It seems that EURUSD up move is over, let's go down!
http://www.forexfactory.com/news.php?do=news&id=440366 ... wer is Goldman and their reasoning for Stronger dollar ??
I long ago stopped trading on NFP day and even close all my trades on Thursday if they are favorable for me at that time.
Quoting kishupatel
http://www.forexfactory.com/news.php?do=news&id=440366 ... wer is Goldman and their reasoning for Stronger dollar ??
Not so hasty mate!!
Quoting _Raghu_
FOMC Member Bullard will move this currency again after 3 hours maximum trading ranges here....

http://4xchart.com/eurusd-weekend-rally-2-aug-2013/
Go to the sleep.
S/L now?
Quoting backinblackl
I long ago stopped trading on NFP day and even close all my trades on Thursday if they are favorable for me at that time.
Agree. ..very dangerous play on NFC..better focus next Monday
Any other indicators chip in between?
no effect for usd, still strong dollar
Gold and Silver have gained very quickly.
Any technical advice, please!
It will be a bad idea to trade now
Eur usd going up but it is hitting a strong resistance
If close above 1.33 next week will be buy.

Have a nice weekend everybody
Resistance at 1.3270?
sell eur/usd 3262 scalp
Quoting jaygee
sell eur/usd 3262 scalp
A scalper you are NOT. Nothing about your entry made any sense
What will be the impact when Bullard speaks later?
Quoting Kok Teong
What will be the impact when Bullard speaks later?

BUllard may just say,"FOOK IT, I have enough of Fundamental Elementary Department!! Fook it I'm leaving!!!"

He's a typical hawisk guy, if he says todays NFP is nothing then it's going to be back to square one

Trading R1 and pivot for today
Hahaha.....
Quoting jonathanhk
BUllard may just say,"FOOK IT, I have enough of Fundamental Elementary Department!! Fook it I'm leaving!!!"

He's a typical hawisk guy, if he says todays NFP is nothing then it's going to be back to square one

Trading R1 and pivot for today
Quoting dancingphil
A scalper you are NOT. Nothing about your entry made any sense
not to you it didn't. you are not all knowing though so i will continue to make money daily and you can continue to chime in when a particular entry doesn't work out.......yet. I don't remember your entry being posted.
The news was all bad. Anybody with an ounce of brains knows that 162,000 new jobs will not drop the unemployment by 2 tenths. The drop in unemployment didn't come because of how many were hired but, because of how many were counted as giving up and that is bad. The low amount of hires is made even worse when you look at the jobs created. Anybody looking past the silly red and green figures realized this was very bad news and the market reacted accordingly. The spin the FOMC puts on this a little later should be interesting.
What imo is more important is that average hourly earnings came down. With QE the fed aims for inflation, wages are going in the opposite way so tapering might be far away.
Quoting jaygee
not to you it didn't. you are not all knowing though so i will continue to make money daily and you can continue to chime in when a particular entry doesn't work out.......yet. I don't remember your entry being posted.
I have 500 lots of pending sell limit orders across my brokers at 1.33, and I will sail those 5 trades down into the London close and further into the Bullard nonsense.

Nothing says that my pending orders will get hit. But I have been within 6 pips so far.

I'm a scalper from the most opportunistic levels. If I don't get on a trade, my powder stays dry.

You of course were 32 pips underwater and drowning.
Quoting gcgman
The news was all bad. Anybody with an ounce of brains knows that 162,000 new jobs will not drop the unemployment by 2 tenths. The drop in unemployment didn't come because of how many were hired but, because of how many were counted as giving up and that is bad. The low amount of hires is made even worse when you look at the jobs created. Anybody looking past the silly red and green figures realized this was very bad news and the market reacted accordingly. The spin the FOMC puts on this a little later should be interesting.
Add to this issue that you raise, a deep reading of Wednesday's GDP HEADLINE figure shows that the previous quarter was "revised" downwards from 1.8% to 1.1%.

So the HEADLINE rate of GDP of 1.7% is really 1.0%, because of the previous quarter's revision.

ALSO, the previous year (which this same report brings to the market) is that in the 1st quarter a year ago (2012) there was a much larger revision downwards than previously stated (1.3% down to -0.1%)

Cumulatively, the GDP figures for USA are buggered.

Employment figures are buggered, with the masses walking away from seeking employment as a waste of time.

And the jobs that were created were as bar-tenders and waitresses.

And therein lies the message. Americans should be waiting on our tables and pouring us our drinks. They have found their true calling in life.

Many in the world would agree......
All in all...tapering is like a shadow over the markets....its not a matter of "if"...but rather "when"...response to good news [if u are a USD bear] will be tempered...bad news amplified...standby for a strengthening of USD over the foreseeable future...can u see that far ? ;-]
Quoting dancingphil
Add to this issue that you raise, a deep reading of Wednesday's GDP HEADLINE figure shows that the previous quarter was "revised" downwards from 1.8% to 1.1%.

So the HEADLINE rate of GDP of 1.7% is really 1.1%, because of the previous quarter's revision.

ALSO, the previous year (which this same report brings to the market) is that in the 1st quarter a year ago (2012) there was a much larger revision downwards than previously stated (1.3% down to -0.1%)

Cumulatively, the GDP figures for USA are buggered.

Employment figures are buggered,...

Can't but say +10 - all rigged data
Quoting jonathanhk
Can't but say +10 - all rigged data
Yup, 100% truly rigged data.

In fact they even say their data is rigged, and even go further and state that they re-rig the data since the Great Depression.

It's in their fine print.
Quoting dancingphil
Yup, 100% truly rigged data.

In fact they even say their data is rigged, and even go further and state that they re-rig the data since the Great Depression.

It's in their fine print.
Nah not fine print, it's all over their face. It's comical to see a crow calling a pig black when bloomnberg, reuters, aka slaves of the tarnished black/white house and Fundamental Elementary Department (FED) discriminate (nah too strong a word to use - bullied is a better word) about China's rigged data all these while.......n bloody Chinese (in a good way) keeping fooking quiet!!!!!! Guess you r experiencing that while living in China eh? The Chinese virtue of keeping quiet.

What once was resistance will turn into support and vice versa. 1618 extension and I'll close my longs and reshort
Come on Bullard, say something similar to post #45!
till now no any move in market
any body now whats going on in speak of fomc
still can't believe what just happen
Quoting dancingphil
I have 500 lots of pending sell limit orders across my brokers at 1.33, and I will sail those 5 trades down into the London close and further into the Bullard nonsense.

Nothing says that my pending orders will get hit. But I have been within 6 pips so far.

I'm a scalper from the most opportunistic levels. If I don't get on a trade, my powder stays dry.

You of course were 32 pips underwater and drowning.
32 pips is drowning me? that's funny. You might not be as smart as you think.
  •  Guest
  • | IP XX.X.86.197
scratching my head as to why NFP is still considered the most important monthly event on most traders' calendars. 22k jobs below forecast out of a population of 314 million (2012 estimate I found on the internet) that is 0.007% of the US population. big deal, and then the figure is still subject to revision. statistically, I reckon 22k is insignificant, not market moving in any way. I used to analyse the report in detail before, but couldn't be bothered anymore, there are enough experts doing that.

“What you’re seeing is now the spreading of low wage growth,” he says, noting those trends continued in Friday's July jobs report. “Really we have become a nation of hamburger flippers, Wal-Mart sales associates, barmaids, checkout people and other people working at very low wages.”

The growth of low-wage jobs helps explain why the majority of Americans continue to believe the economy is in recession, despite a falling unemployment rate – now down to a four-year low of 7.4% – a record-setting stock market rally and a rebound in the housing market.

http://finance.yahoo.com/blogs/daily-ticker/become-nation-hamburger-flippers-dan-alpert-breaks-down-145831220.html
Quoting valcrist
still can't believe what just happen
what happened apart from the resistance line .326x becoming support line for the near short term?
nice one bullard - you speech are about the same as whats posted in #45 lol! Thanks pal
any news what happening
Quoting ali awan
any news what happening
IT MOVED
Quoting jonathanhk
IT MOVED
whats mean moved
i hate weekend like this, waiting till monday -_-
Quoting ali awan
whats mean moved
is your platform dead? Can't you see it moved 20pips? Goodness gracious me! I fooking need some banana
Quoting dancingphil
The Chinese are a quiet lot. They are a private mob, and even if they hate your guts with good reasons they will never attack someone's sense of face.

I am on record in FF as saying several times that their (Chinese) GDP is much higher than stated; and the powers that be are not confused about MOST of Chinese GDP being unreported. This is a simple fact resulting from almost all transactions here are done in cash cash and cannot be traced.

Even places where there are records, like the 1,400,000 shop keepers on Taobao, the online web-site similar...
True, but I still trust the U.S dollar. I want my money based in US Dollars for the near interim. Will it change someday?A handful argue 'it might'; I'm still not buying CNY or learning mandarin.

I am a programmer by trade, which is the equivalent of a 'fisherman' or 'carpenter', if there's wood to chop and fish to hunt, I'm ok. Would I move to China if the pay is better? well, it would be a hard decision, but I would still favor the West.
It isn't, but for new retail traders it provides what they think is an exciting 'bet' which is encouraged by many of the retail FX brokers. Because they know that they'll take extra funds on the day retail brokers pump it. Strange thing is it isn't a either or bet given that stops and take limit profit orders get messed up and the broker can reasonably claim the fast moving market prevented stops and limits getting hit.

Quoting Guest
scratching my head as to why NFP is still considered the most important monthly event on most traders' [
"The meek shall inherit the earth.." Yeah right, good luck with that shit..
Hah, always amazes me how people find themselves at a "higher place" when they get money from trading.

Well, in my opinion - trading and making money from it is easy, way more easy than to create profitable business or the "new Facebook".

But yet I've never met a live person who prefer just to make money on trading and that's it - nothing more, no some side interesting jobs, not some endeavors or opportunities. Anyway - trading shouldn't be something considered a "higher step" or something - it is just a money profits amplifier.
  •  Guest
  • | IP X.XX.173.78
Hi Michaelpelly,

Any comments on cable. I have a short position. I am not sure to exit the trade as I am 40 pips down.
There is red news today for the pound, its a bit risky - could drive higher. I would wait to get some profit or at least smaller loss on the short and look for dips to buy this week today or tomorrow. Can't really tell if you should keep the short. But hey - I could be wrong as well :-).
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  •  Guest
  • | IP XX.XX.14.84
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