Excerpt from: Spot Forex
|
 |
| July 02, 2009 | | Spot forex trading with the greenback | The U.S. dollar is higher today on risk aversion, ahead of non-farm payroll data. Yesterday's ADP employment data was disappointing, and today's unemployment numbers are expected to continue driving the rate toward 10%.
In spot forex trading, it will be interesting to see how the greenback trades. GFT's Kathy Lien looks at how to trade the U.S. dollar using information from non-farm payroll data:
If non-farm payrolls fall by more than 500k, the dollar could sell-off
initially but then quickly regain footing as risk aversion flows set
in. If non-farm payrolls fall by less than 450k, the dollar could
initially rally but then give back its gains as risk appetite improves.
Anything in between could lead to erratic trading.
| Topic Tags: forex trading, forex trading greenback, Kathy Lien, non-farm payroll, spot forex trading, U.S. dollar, unemployment | |
|
|
