#TRADERSLANG
To go bottom fishing 🐟 - describes the strategy of investing in assets when it is believed the market has reached bottom after a major decline. A trader believes that the reason for a drop of an asset lies in panic selling, rather than a serious issue, and it will recover soon. 📈
Did you know this phrase?
To go bottom fishing 🐟 - describes the strategy of investing in assets when it is believed the market has reached bottom after a major decline. A trader believes that the reason for a drop of an asset lies in panic selling, rather than a serious issue, and it will recover soon. 📈
Did you know this phrase?
#ECONOMICCALENDAR
Good morning, traders! ✳
🚧 Yesterday in Brussels the EU leaders declined the plans for the November summit as not enough progress on Brexit was made. Despite the British Prime Minister Theresa May's arguments, the EU started to prepare for a "hard" or "no-deal" Brexit.
📉 As a result, the GBP fell.
🇬🇧Today's focus is again on the British currency.
📊 The level of retail sales (releases at 11:30 MT) is expected to fall by 0.4%.
The anticipation of this decline also pushes the British pound down. However, if the actual level is higher than the forecast, it will bring positivity to the GBP bulls.
Let's look at the forecasts of senior banks:
💭Nomura - " retail sales will fall"
💭TDS Securities - "retail sales will gain by 0.2%"
💭Shanghai Banking Corporation - "retail sales are likely to fall"
What do you think? Will the British retail sales in September outperform the negative forecasts?
Good morning, traders! ✳
🚧 Yesterday in Brussels the EU leaders declined the plans for the November summit as not enough progress on Brexit was made. Despite the British Prime Minister Theresa May's arguments, the EU started to prepare for a "hard" or "no-deal" Brexit.
📉 As a result, the GBP fell.
🇬🇧Today's focus is again on the British currency.
📊 The level of retail sales (releases at 11:30 MT) is expected to fall by 0.4%.
The anticipation of this decline also pushes the British pound down. However, if the actual level is higher than the forecast, it will bring positivity to the GBP bulls.
Let's look at the forecasts of senior banks:
💭Nomura - " retail sales will fall"
💭TDS Securities - "retail sales will gain by 0.2%"
💭Shanghai Banking Corporation - "retail sales are likely to fall"
What do you think? Will the British retail sales in September outperform the negative forecasts?
Forwarded from Forex HUB
Attention: trading schedule changes!
Very important information for our traders! FBS reminds you of a trading schedule change due to DST!
Starting from October 28th, 2018 Europe is setting the clocks back one hour. The MetaTrader time is set back one hour as well. Pay attention to this fact, because it affects the trading schedule.
Trading for XAUUSD, XAGUSD, Palladium, Platinum, WTI, BRN will open one hour earlier MT time. Please keep this fact in mind when planning your trading sessions.
And remember: whenever you have questions or concerns, please feel free to contact the FBS support team!
Very important information for our traders! FBS reminds you of a trading schedule change due to DST!
Starting from October 28th, 2018 Europe is setting the clocks back one hour. The MetaTrader time is set back one hour as well. Pay attention to this fact, because it affects the trading schedule.
Trading for XAUUSD, XAGUSD, Palladium, Platinum, WTI, BRN will open one hour earlier MT time. Please keep this fact in mind when planning your trading sessions.
And remember: whenever you have questions or concerns, please feel free to contact the FBS support team!
Weekly #CryptoNews
Carlos Tong, the Chairman of Hong Kong’s Securities and Futures Commission (SFC): “We do not think imposing a total ban on cryptocurrency trading platforms is necessarily the right approach, and it will not work in today’s internet world when trading can cross national boundaries.”
🚀On Wednesday, Bitcoin managed to test its September highs. An unexpected increase happened due to the problems with Bitfinex and Tether.
📉Tether or USDT was considered as a stablecoin which price has been held at $1 for a long period of time, dropped to $0.98.
🙇This resulted in panic among the investors and traders, who started to sell USDT and buy Bitcoin. It is interesting to know that USDT is supported by Bitfinex trading platform, which is facing bankruptcy right now.
🕛At the moment, Bitcoin is trading below the support at $6580 (50-day MA). The next support for the digital currency is at $6419. If any crypto manipulations occur Bitcoin can go up. In that case, the price can stick above $6580.
For more cryptonews visit our website
Carlos Tong, the Chairman of Hong Kong’s Securities and Futures Commission (SFC): “We do not think imposing a total ban on cryptocurrency trading platforms is necessarily the right approach, and it will not work in today’s internet world when trading can cross national boundaries.”
🚀On Wednesday, Bitcoin managed to test its September highs. An unexpected increase happened due to the problems with Bitfinex and Tether.
📉Tether or USDT was considered as a stablecoin which price has been held at $1 for a long period of time, dropped to $0.98.
🙇This resulted in panic among the investors and traders, who started to sell USDT and buy Bitcoin. It is interesting to know that USDT is supported by Bitfinex trading platform, which is facing bankruptcy right now.
🕛At the moment, Bitcoin is trading below the support at $6580 (50-day MA). The next support for the digital currency is at $6419. If any crypto manipulations occur Bitcoin can go up. In that case, the price can stick above $6580.
For more cryptonews visit our website
Good morning, traders! ✳
✅ Want to know the best trade ideas for this week?
Join FBS analyst Darya Bobrova goes through this week’s economic calendar and explain technical setups for EUR/USD, GBP/USD, USD/JPY, and other key currency pairs.
The webinar starts at 13:00 MT time (10:00 GMT).
Register now! https://bit.ly/2yQEViU
✅ Also, don't forget to register for the webinar on trading divergences on Thursday at 13:00 MT time (10:00 GMT)!
Do you know what the divergence is? Have you ever thought that it can give you strong signals? FBS analyst Darya Bobrova will tell you about the most profitable ways to use the divergence in trading.
Register now! https://bit.ly/2J5rFvJ
You can find the full list of our webinars on the website:
https://fbs.com/analytics/webinars
✅ Want to know the best trade ideas for this week?
Join FBS analyst Darya Bobrova goes through this week’s economic calendar and explain technical setups for EUR/USD, GBP/USD, USD/JPY, and other key currency pairs.
The webinar starts at 13:00 MT time (10:00 GMT).
Register now! https://bit.ly/2yQEViU
✅ Also, don't forget to register for the webinar on trading divergences on Thursday at 13:00 MT time (10:00 GMT)!
Do you know what the divergence is? Have you ever thought that it can give you strong signals? FBS analyst Darya Bobrova will tell you about the most profitable ways to use the divergence in trading.
Register now! https://bit.ly/2J5rFvJ
You can find the full list of our webinars on the website:
https://fbs.com/analytics/webinars
#EconomicCalendar
5 Important things to know for this week!
✅ The speech of the Bank of England governor Carney (Tue, 18:20 MT time) – the BOE governor is planning to make a speech in Toronto. The main topic of his speech will be dedicated to machine learning, however, he can make some comments regarding the Bank’s monetary policy. This will be a good move to support the GBP after the last week Brexit tensions.
✅ Bank of Canada rate statement (Wed, 17:00 MT time) – Bank of Canada will announce its official rate. Despite the weaker than expected economic data concerning inflation and retail sales, the bank is anticipated to raise interest rates on Wednesday. If it happens, this will be the fourth rate hike since July 2017, which will support the CAD.
✅ The announcement of the main refinancing rate and the European Central Bank press conference (Thu, 14:45 MT time) – This week is important for the EUR, too. ECB will give its usual press conference and announce the official rate on Thursday. The rate is expected to remain stable, as the bank does not plan a rate hike earlier than in summer 2019. However, the President of the ECB Mario Draghi can make some hawkish comments on the EU economy and the EUR.
✅ US Core durable goods orders (Thu, 15:30 MT time) – according to analysts, the total value of new purchase orders of the US will increase by 0.3%. If the actual data is higher, the greenback will rise.
✅ US advance GDP (Fri, 15:30 MT time) – experts see the GDP of the United States to fall by 3.3% in the third quarter, which still shows the above trend growth of the US economy.
Stay with us for more news and important updates!
5 Important things to know for this week!
✅ The speech of the Bank of England governor Carney (Tue, 18:20 MT time) – the BOE governor is planning to make a speech in Toronto. The main topic of his speech will be dedicated to machine learning, however, he can make some comments regarding the Bank’s monetary policy. This will be a good move to support the GBP after the last week Brexit tensions.
✅ Bank of Canada rate statement (Wed, 17:00 MT time) – Bank of Canada will announce its official rate. Despite the weaker than expected economic data concerning inflation and retail sales, the bank is anticipated to raise interest rates on Wednesday. If it happens, this will be the fourth rate hike since July 2017, which will support the CAD.
✅ The announcement of the main refinancing rate and the European Central Bank press conference (Thu, 14:45 MT time) – This week is important for the EUR, too. ECB will give its usual press conference and announce the official rate on Thursday. The rate is expected to remain stable, as the bank does not plan a rate hike earlier than in summer 2019. However, the President of the ECB Mario Draghi can make some hawkish comments on the EU economy and the EUR.
✅ US Core durable goods orders (Thu, 15:30 MT time) – according to analysts, the total value of new purchase orders of the US will increase by 0.3%. If the actual data is higher, the greenback will rise.
✅ US advance GDP (Fri, 15:30 MT time) – experts see the GDP of the United States to fall by 3.3% in the third quarter, which still shows the above trend growth of the US economy.
Stay with us for more news and important updates!
Hello, dear traders!
❗ It's time to trade on economic events❗
📝 Yesterday new uncertainties around Brexit pushed the British pound down. Despite the British Prime Minister Theresa May’s comments on reaching the final compromise, Eurosceptics within the UK parliament and the members of the Democratic Unionist party of Ireland will try to make illegal the solution on the Irish border proposed by European Union.
💬 Now let's check the trade signals from our analysts:
✔GBP/USD: SELL — 1.3000; SL — 1.3020; TP1 — 1.2950; TP2 — 1.2920;
✔USD/CAD: SELL — 1.319; SL — 1.3245; TP1 — 1.309; TP2 — 1.303; TP3 — 1.2925.
❗ It's time to trade on economic events❗
📝 Yesterday new uncertainties around Brexit pushed the British pound down. Despite the British Prime Minister Theresa May’s comments on reaching the final compromise, Eurosceptics within the UK parliament and the members of the Democratic Unionist party of Ireland will try to make illegal the solution on the Irish border proposed by European Union.
💬 Now let's check the trade signals from our analysts:
✔GBP/USD: SELL — 1.3000; SL — 1.3020; TP1 — 1.2950; TP2 — 1.2920;
✔USD/CAD: SELL — 1.319; SL — 1.3245; TP1 — 1.309; TP2 — 1.303; TP3 — 1.2925.
Good morning, traders!
🕔 As you may know, the Bank of Canada is planning to increase its interest rate during the rate statement today at 17:00 MT time. Analysts anticipate the rate hike by 25 basis points. If the interest rate is increased, it will have a positive impact on the Canadian dollar.
📊In addition, the bank will provide an outlook on the economic conditions of Canada and inflation, which will form the future monetary policy.
️📌Remember, that the European Central Bank will be conducting the press conference at 15:30 MT time on Thursday. For now, the central bank keeps the interest rate at 0% and continues the stimulative monetary policy. According to the policymakers, the central bank can increase the main refinancing rate no earlier than in summer 2019. However, we anticipate comments about the projections on the economic situation in the EU. If the economic outlook is positive, we can expect the rate hike sooner.
What else to expect from the central banks of different countries in the upcoming months?
Here we invite you to look at the picture to check where the rate hike is more likely to happen.🔍
🕔 As you may know, the Bank of Canada is planning to increase its interest rate during the rate statement today at 17:00 MT time. Analysts anticipate the rate hike by 25 basis points. If the interest rate is increased, it will have a positive impact on the Canadian dollar.
📊In addition, the bank will provide an outlook on the economic conditions of Canada and inflation, which will form the future monetary policy.
️📌Remember, that the European Central Bank will be conducting the press conference at 15:30 MT time on Thursday. For now, the central bank keeps the interest rate at 0% and continues the stimulative monetary policy. According to the policymakers, the central bank can increase the main refinancing rate no earlier than in summer 2019. However, we anticipate comments about the projections on the economic situation in the EU. If the economic outlook is positive, we can expect the rate hike sooner.
What else to expect from the central banks of different countries in the upcoming months?
Here we invite you to look at the picture to check where the rate hike is more likely to happen.🔍
More #traderslang!
Babysitting - a situation when traders continue to keep an order, despite losses, in hope the market will turn so they can break even and make a profit.
Does it sound familiar to you? 😏
Babysitting - a situation when traders continue to keep an order, despite losses, in hope the market will turn so they can break even and make a profit.
Does it sound familiar to you? 😏
Forwarded from Forex HUB
Hello, traders!
Check the trade signals our analysts suggest for today!
🇬🇧GBP/USD: Sell — 1.2920; SL — 1.2940; TP1 — 1.2860; TP2 — 1.2800.
🇪🇺EUR/USD: Sell — 1.1430; SL — 1.1450; TP1 — 1.1390; TP2 — 1.1350.
🇪🇺EUR/JPY: Sell — 128.3; SL — 128.85; TP1 — 127.3; TP2 — 126.3; TP3 — 125.5.
🇯🇵USD/JPY: Sell —111.8; SL — 112.35; TP1 — 110.8; TP2 — 110.3; TP3 — 107.85.
Have a successful trading!
Check the trade signals our analysts suggest for today!
🇬🇧GBP/USD: Sell — 1.2920; SL — 1.2940; TP1 — 1.2860; TP2 — 1.2800.
🇪🇺EUR/USD: Sell — 1.1430; SL — 1.1450; TP1 — 1.1390; TP2 — 1.1350.
🇪🇺EUR/JPY: Sell — 128.3; SL — 128.85; TP1 — 127.3; TP2 — 126.3; TP3 — 125.5.
🇯🇵USD/JPY: Sell —111.8; SL — 112.35; TP1 — 110.8; TP2 — 110.3; TP3 — 107.85.
Have a successful trading!
The ECB press conference: not as hawkish as it could be.
📢During today’s press conference the ECB President Mario Draghi made some comments regarding the current situation on the market. The key notes:
🔸 trade uncertainty between China and the US as well as Italian problems slowed momentum;
🔸 an agreement on the Italian budget will be reached soon;
🔸confidence in inflation levels;
🔸progressive tightening on the labor market;
🔸strong consumption levels.
There was not a lot of discussion concerning the Italian budget problem. As a result, on a H1 chart EUR/USD bounced from the 50-hour MA and fell below the support at 1.1421.
📢During today’s press conference the ECB President Mario Draghi made some comments regarding the current situation on the market. The key notes:
🔸 trade uncertainty between China and the US as well as Italian problems slowed momentum;
🔸 an agreement on the Italian budget will be reached soon;
🔸confidence in inflation levels;
🔸progressive tightening on the labor market;
🔸strong consumption levels.
There was not a lot of discussion concerning the Italian budget problem. As a result, on a H1 chart EUR/USD bounced from the 50-hour MA and fell below the support at 1.1421.
Ryan Taylor, the CEO of Dash Core Group: The central bank-issued cryptocurrencies are the inevitable future. Governments all are going through either competitors’ pressure or through their own desires — to launch their own cryptocurrencies. But I don’t think it is where the greatest innovations will occur.
✔ This week's #CryptoNews
🔸 After reaching its September highs last week, Bitcoin is trading in a range-bound market between the resistance at $6,595 and the support at $6,485.
🔸 The digital currency keeps losing its volatility, as trading cryptocurrencies becomes less chaotic and more professional.
🔸 Even the news factor did not affect the price for Bitcoin as it used to last year. Thus, the latest speculations around Tether failed to create a long-term market activity.
🔸 Some analysts even compare the volatility of Bitcoin price to shares of some large corporations, showing how little they change.
🔸 At the moment, the digital currency is trading near the 50-day MA at $6,522. Unexpected positive events on the market can force the price to rise above the resistance at $6,595 to the next resistance at $6,629. In case of negative factors, the price can fall below $6,485 to the next support at $6419.
Bitcoin $6,554.1(+0.26%)
DASH $155.3 (-0.27%)
Ethereum $206.16 (+0.96%)
Litecoin: $51.93 (+0.60%)
✔ This week's #CryptoNews
🔸 After reaching its September highs last week, Bitcoin is trading in a range-bound market between the resistance at $6,595 and the support at $6,485.
🔸 The digital currency keeps losing its volatility, as trading cryptocurrencies becomes less chaotic and more professional.
🔸 Even the news factor did not affect the price for Bitcoin as it used to last year. Thus, the latest speculations around Tether failed to create a long-term market activity.
🔸 Some analysts even compare the volatility of Bitcoin price to shares of some large corporations, showing how little they change.
🔸 At the moment, the digital currency is trading near the 50-day MA at $6,522. Unexpected positive events on the market can force the price to rise above the resistance at $6,595 to the next resistance at $6,629. In case of negative factors, the price can fall below $6,485 to the next support at $6419.
Bitcoin $6,554.1(+0.26%)
DASH $155.3 (-0.27%)
Ethereum $206.16 (+0.96%)
Litecoin: $51.93 (+0.60%)
✅ To be more successful in trading you always need to improve your knowledge. That is why we created a new section for you!
📝 Each Friday we will post a new quiz. The questions will cover the most useful basics of fundamental and technical analysis.
📆 The answer to today's question will be published on the next Friday.
🙇 However if you're impatient or unsure about your knowledge, you can always boost it by checking our Forex Guidebook here: https://bit.ly/2tY4MUA
Press 💚 if you're excited about our new section!
📝 Each Friday we will post a new quiz. The questions will cover the most useful basics of fundamental and technical analysis.
📆 The answer to today's question will be published on the next Friday.
🙇 However if you're impatient or unsure about your knowledge, you can always boost it by checking our Forex Guidebook here: https://bit.ly/2tY4MUA
Press 💚 if you're excited about our new section!
FBS
Forex GuideBook: Learn Forex Trading | FBS
Forex guidebook will become a solid foundation for your Forex knowledge. Go through the Forex guide on FBS and get the knowledge for successful trading on the Forex market.
FBS Analytics via @vote
If the Federal Reserve (FED) starts selling the government bonds, the US dollar will likely...
anonymous poll
increase – 138
👍👍👍👍👍👍👍 83%
decrease – 16
👍 10%
stay at the same level – 12
👍 7%
👥 166 people voted so far. Poll closed.
anonymous poll
increase – 138
👍👍👍👍👍👍👍 83%
decrease – 16
👍 10%
stay at the same level – 12
👍 7%
👥 166 people voted so far. Poll closed.
#EconomicCalendar
Top 5 things to trade on this week!
🔸 US CB Consumer confidence (Tue, 17:00 MT time) – Analysts expect it to drop to 136.3 points from reaching 138.4 points in September. Remember, the higher-than-expected level is good for the greenback.
🔹 The Bank of Japan press conference (Wed, tentative) – some experts anticipate the probable changes to the monetary policy of the BOJ, following the latest statements from its Governor Haruhiko Kuroda. A combination of the hawkish statements from the Bank of Japan and a sell-off in the equity markets can be quite supportive for the JPY.
🔸 Canadian GDP m/m (Wed, 15:30 MT time) – this is a nice opportunity to trade the loonie during this week, too. Last time the economic activity of the country increased by 0.2%. There is no official forecast yet, but it will definitely be announced before the release of the actual data. We will keep you updated.
🔹 Monetary policy summary from the Bank of England (Thu, 15:00 MT time) – while there are no expectations of the rate hike, the bank can make some supportive comments for the GBP. It will help the currency to recover during the uncertain Brexit times.
🔸 US non-farm employment change and employment rate (Fri, 15:30 MT time) – the NFP is forecast to expand to 191 thousand people from 134 thousand in September. At the same time, the unemployment rate will reach 3.8%, according to analysts. This level is higher than in September (3.7%), which can have a negative impact on the currency. We will see how the actual data will affect the USD.
Top 5 things to trade on this week!
🔸 US CB Consumer confidence (Tue, 17:00 MT time) – Analysts expect it to drop to 136.3 points from reaching 138.4 points in September. Remember, the higher-than-expected level is good for the greenback.
🔹 The Bank of Japan press conference (Wed, tentative) – some experts anticipate the probable changes to the monetary policy of the BOJ, following the latest statements from its Governor Haruhiko Kuroda. A combination of the hawkish statements from the Bank of Japan and a sell-off in the equity markets can be quite supportive for the JPY.
🔸 Canadian GDP m/m (Wed, 15:30 MT time) – this is a nice opportunity to trade the loonie during this week, too. Last time the economic activity of the country increased by 0.2%. There is no official forecast yet, but it will definitely be announced before the release of the actual data. We will keep you updated.
🔹 Monetary policy summary from the Bank of England (Thu, 15:00 MT time) – while there are no expectations of the rate hike, the bank can make some supportive comments for the GBP. It will help the currency to recover during the uncertain Brexit times.
🔸 US non-farm employment change and employment rate (Fri, 15:30 MT time) – the NFP is forecast to expand to 191 thousand people from 134 thousand in September. At the same time, the unemployment rate will reach 3.8%, according to analysts. This level is higher than in September (3.7%), which can have a negative impact on the currency. We will see how the actual data will affect the USD.
Hello, traders!
📝The most significant events for today are the release of the consumer confidence level for the US dollar at 17:00 and the speech by the Bank of Canada governor at 22:30 MT time. The consumer confidence is expected it to drop to 136.3 points from reaching 138.4 points in September. A higher-than-expected data can support the US dollar.
Now let's look at the signals our analysts suggest for today's trading!
📌️ USD/CAD: SELL 1.327; SL 1.3325; TP1 1.317; TP2 1.308; TP3 1.289.
📌 XAU/USD: BUY 1222; SL 1207; TP1 1.252; TP2 1263; TP3 1287.
Visit our website regularly for more trade signals from FBS experts! 👉
📝The most significant events for today are the release of the consumer confidence level for the US dollar at 17:00 and the speech by the Bank of Canada governor at 22:30 MT time. The consumer confidence is expected it to drop to 136.3 points from reaching 138.4 points in September. A higher-than-expected data can support the US dollar.
Now let's look at the signals our analysts suggest for today's trading!
📌️ USD/CAD: SELL 1.327; SL 1.3325; TP1 1.317; TP2 1.308; TP3 1.289.
📌 XAU/USD: BUY 1222; SL 1207; TP1 1.252; TP2 1263; TP3 1287.
Visit our website regularly for more trade signals from FBS experts! 👉
🇯🇵 Tomorrow, the Bank of Japan will present its monetary policy statement. Some experts predict it to be the key event of the week, as the BOJ Governor Mr. Kuroda can suggest tightening measures to the Bank's current policy.
📈 Hawkish comments from the BOJ can support the JPY.
📈 Hawkish comments from the BOJ can support the JPY.
💀 🎃 It's that time of the year when all of your fears come out... not for our traders, though, as they follow our #Traderslang!
Bear Squeeze - a situation where sellers are faced with an appreciating market which forces them to close their positions at a loss, thus driving prices higher.
Are you afraid to be squeezed by a bear?
Bear Squeeze - a situation where sellers are faced with an appreciating market which forces them to close their positions at a loss, thus driving prices higher.
Are you afraid to be squeezed by a bear?
🇬🇧 The British Pound is at the spotlight today.
📊 The level of manufacturing PMI at 12:30 MT time. Analysts expect it to drop to 53 points. Remember, that higher-than-expected level is good for the currency.
🔵 However, the main attention will be on the BOE monetary policy summary and the press conference held by Mark Carney. While there is no expectation of a rate hike, the GBP can be supported by the hawkish comments.
🔴 Yesterday the UK Brexit minister Raab was confident about reaching the Brexit deal on the 21 of November. It lifted GBP/USD towards the resistance at 1.2895.
🔵 Hawkish statements by the Bank of England can make the pair to stick above 1.2895. Negative news can push the cable down to the support at 1.2704.
📊 The level of manufacturing PMI at 12:30 MT time. Analysts expect it to drop to 53 points. Remember, that higher-than-expected level is good for the currency.
🔵 However, the main attention will be on the BOE monetary policy summary and the press conference held by Mark Carney. While there is no expectation of a rate hike, the GBP can be supported by the hawkish comments.
🔴 Yesterday the UK Brexit minister Raab was confident about reaching the Brexit deal on the 21 of November. It lifted GBP/USD towards the resistance at 1.2895.
🔵 Hawkish statements by the Bank of England can make the pair to stick above 1.2895. Negative news can push the cable down to the support at 1.2704.
#EconomicCalendar
Today the United States will release the level of Non-Farm Employment Change, also known as Nonfarm Payrolls or NFP, at 15:30 MT time. Traders keep attention to it because it makes the USD highly volatile. 💸
📈 A high volatility is always a chance to boost your profit significantly!
Why do traders care about the NFP?
🔸 NFP reflects a change in the number of employed people during the previous month, excluding the farming industry. It is one of the most important economic data because the Federal Reserve uses it to take a decision on the future monetary policy.
🔸 A rise in the data supports a rate hike🔺, a decline doesn’t let the central bank increase the interest rate🔻.
🔸 Looking through the economic calendar, traders may notice that there is an ADP Non-Farm Employment Change indicator. The figure depicts an estimated change in the number of employed people during the previous month, excluding the farming industry and government. Although some traders consider the ADP NFP as a forecast for the official NFP, there is no direct correlation. Moreover, the ADP NFP doesn’t affect the USD. ❌
Don't skip your chance to trade on this event!
Today the United States will release the level of Non-Farm Employment Change, also known as Nonfarm Payrolls or NFP, at 15:30 MT time. Traders keep attention to it because it makes the USD highly volatile. 💸
📈 A high volatility is always a chance to boost your profit significantly!
Why do traders care about the NFP?
🔸 NFP reflects a change in the number of employed people during the previous month, excluding the farming industry. It is one of the most important economic data because the Federal Reserve uses it to take a decision on the future monetary policy.
🔸 A rise in the data supports a rate hike🔺, a decline doesn’t let the central bank increase the interest rate🔻.
🔸 Looking through the economic calendar, traders may notice that there is an ADP Non-Farm Employment Change indicator. The figure depicts an estimated change in the number of employed people during the previous month, excluding the farming industry and government. Although some traders consider the ADP NFP as a forecast for the official NFP, there is no direct correlation. Moreover, the ADP NFP doesn’t affect the USD. ❌
Don't skip your chance to trade on this event!
#FridayQuiz
Last Friday's question: "If the Federal Reserve (FED) starts selling the government bonds, the US dollar will likely increase " 🔝
We're happy to see how many of you answered correctly!
✅Meet the question for today!
Last Friday's question: "If the Federal Reserve (FED) starts selling the government bonds, the US dollar will likely increase " 🔝
We're happy to see how many of you answered correctly!
✅Meet the question for today!