Last Week Friday NFP announcement. | Forex Factory

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Last Week Friday NFP announcement.

  • #1
  • First Post: Oct 9, 2006 3:10pm Oct 9, 2006 3:10pm
Hello all, I wanted some help on this. From what I was reading on the economic calendar, a rising trend means that the currency is supposed to get stronger and vice versa. According to the forex calendar, the actual figure was far below the projected figure, yet the USD still gained strength. Why is this?

thanks.
  • #2
  • Oct 9, 2006 3:52pm Oct 9, 2006 3:52pm
Quoting vder
Hello all, I wanted some help on this. From what I was reading on the economic calendar, a rising trend means that the currency is supposed to get stronger and vice versa. According to the forex calendar, the actual figure was far below the projected figure, yet the USD still gained strength. Why is this?

thanks.
unemployment fall from 4.7% to 4.6%
  • #3
  • Oct 9, 2006 4:12pm Oct 9, 2006 4:12pm
Already a very long thread about last weeks NFP. Check the forum history.
The market is my nation. Traders, my family. Hello, brothers and sisters!
  • #4
  • Oct 9, 2006 4:26pm Oct 9, 2006 4:26pm
Quoting fx54xHRB
unemployment fall from 4.7% to 4.6%
That definitely doesn't explain the full extent of USD strength...

as previously noted, there is a length explanation in another thread.
  • #5
  • Oct 9, 2006 4:41pm Oct 9, 2006 4:41pm
upward revision in previous figures made up for the fall this month. And, I was already dollar bullish way before the NFP. Price action at the 1.9000 level about 1-2 weeks ago turned me into a dollar bull.
  • #6
  • Oct 9, 2006 4:48pm Oct 9, 2006 4:48pm
I took a huge position against the pound, and closed it right after the NFP report. I'm glad I didn't lose, as I risked 50% of my account with a 30 pip SL. I can't tell where the market is headed, as this could've just been a correction. The trade balance figures this week would clear stuff up. I'll stay away from the market till then.
  • #7
  • Oct 9, 2006 5:54pm Oct 9, 2006 5:54pm
Quoting blueshift
I took a huge position against the pound, and closed it right after the NFP report. I'm glad I didn't lose, as I risked 50% of my account with a 30 pip SL.
Wow, pretty brazen move (to put it lightly). Are you saying that you would have lost 50% of your account if it had moved against you 30 pips? You see, there is this little thing called money management......
  • #8
  • Oct 10, 2006 1:19am Oct 10, 2006 1:19am
Quoting Americantek
Wow, pretty brazen move (to put it lightly). Are you saying that you would have lost 50% of your account if it had moved against you 30 pips? You see, there is this little thing called money management......
Yes, and I realize that. But can't help it sometimes. I follow a contrarian strategy, where my RRR is pretty low. But 50% was an exaggeration. It was more like... 20-30%.
  • #9
  • Last Post: Oct 10, 2006 3:59pm Oct 10, 2006 3:59pm
Can anyone post a link to where this is discussed? I tried searching for it and I do not know which forum the post is in.
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