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How to Trade Worst US Non-Farm Payrolls Report Ever
This Friday’s US non-farm payrolls report is expected to be the worst ever. Economists believe that more than 21 million jobs were lost in the month of April, which would drive the unemployment rate up to 16%. The last time the jobless rate was in the double digits was in 1983, just after the 1980s recession. Historic job losses should drive currencies and equities lower but with everyone looking for an ugly report, how much impact will it really have on the markets? Expectations is one thing but price action is another. Taking a look at currencies, the persistent sell-off in USD/JPY over the past few weeks tell us ... (full story)
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