Eurusd/gbpusd - page 211
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anyone at home?
sorry mate, busy at work again. man i'm glad I stayed out today!!
No. I don't trade.
Hi matfx, welcome to the thread. interesting lookin charts. whats your style btw?
cheers
Gaz
sorry mate, busy at work again. man i'm glad I stayed out today!!
I hope they're not running you ragged! I'm contemplating quiting for the day. I'll probably watch the charts until 30 mins after US open but if the movement continues to be erratic I'll call it a day.
I hope they're not running you ragged! I'm contemplating quiting for the day. I'll probably watch the charts until 30 mins after US open but if the movement continues to be erratic I'll call it a day.
its fits and starts really....next week will be much better for me....
if your up nicely today mate then you should deff consider calling it a day....nfp Fris can be v hard to trade so to be up nice green pips is good going. have an early weekend and go enjoy yourself!! suprise the missus lol
then next week....LOCK AND LOAD!!!! I predict nice pa action next week.
Gaz
NFP stuff
USA: Non-Farm Payroll Employment - Labor Market Loosens its Recessionary Grip
Actual: -247,000 mom
Previous: -443,000 mom
Consensus: -325,000
Released: Friday, August 07, 2009 at 08:30 (New York time)
Labor Market Loosens its Recessionary Grip
BOTTOM LINE: A much better employment report, in line with our expectations on payrolls. The drop in unemployment should be discounted somewhat given a second consecutive decline in the labor force, though in most respects the survey of households confirms the improvement in labor market conditions. An increase in the workweek helps stabilize hours worked, while an increase in average hourly earnings -- possibly reflecting an increase in the minimum wage -- slows the deceleration in wages.
KEY NUMBERS
Nonfarm payrolls -247,000 in July vs GS -250,000, median forecast -325,000.
Unemployment rate down 0.1 point to 9.4% vs GS 9.7%, median forecast 9.6%.
Average hourly earnings +0.2% in July (mom, +2.5% yoy) vs GS +0.2%, median forecast +0.1%.
MAIN POINTS
1. Nonfarm payrolls posted their smallest decline in nearly one year in July, reflecting much smaller losses in manufacturing and business services, and figures for prior months were revised up modestly. Because most industries still show job losses, the diffusion index for the private nonfarm sector -- the percentage of industries showing job gains -- registered only modest improvement, to 30.1% in July from 28.6% in June.
2. Consistent with other signs of a turn in the inventory cycle, manufacturing was a notable area of relative improvement. Jobs in this sector fell only 52,000, versus 131,000 in June, and the diffusion index improved more noticeably, to a still low 22.3% from 13.3% in July and 9.6% as of February. Notably, the workweek in manufacturing rose 0.3 hours, to 39.8 hours, helping to pull the total workweek for the private sector up 0.1 hour (to 33.1 hour).
3. Thanks to these increases in the workweek and to smaller setbacks in payrolls as well, the index of hours worked was flat -- the best reading since August 2008 and only the second nonnegative posting since February 2008. As a result of the flattening in July, the hours worked index is tracking into the quarter at only a -3.4% annual rate, less than half the rate of decline we have seen over the past half year or more. Although still somewhat low relative to our expectation of a 3% annualized increase in real GDP, further potential turns and strong productivity gains are more than enough to fill the gap.
4. The 0.1-point drop in the unemployment rate -- well below most expectations -- cannot be fully trusted given the large declines in the labor force reported for June (-155,000) and July (-422,000). As the labor force resumes expanding in line with its long-term trend, boosted by the reentry of discouraged workers, a resumption of unemployment increases is likely. However, in most other respects, the survey of households from which the unemployment rate is calculated confirmed a material improvement in labor market conditions. The job count from this survey was down only 155,000 in July, and when adjusted to match the payroll concept it actually rose 70,000 (this latter figure is quite volatile).
5. Average hourly earnings rose 0.2% in July. This probably got some boost from an increase in the minimum wage, though that increase did not take effect until July 24 and should therefore have a more pronounced effect on the August wage figures. The increase reported for July held the slowing in the year-to-year trend to 2.5%, from 2.7% in June.
Hi matfx, welcome to the thread. interesting lookin charts. whats your style btw?
cheers
GazHi Gaz,
I'm more to medium to longer term style. I don't trade scalping style.
Nice to meet you.
regards,
matfx
Hi Gaz,
I'm more to medium to longer term style. I don't trade scalping style.
Nice to meet you.
regards,
matfxcool, nice to meet you too.
Gaz
Hi Gaz,
I'm more to medium to longer term style. I don't trade scalping style.
Nice to meet you.
regards,
matfxWelcome Brother, how long is medium to long term?
You're right mate. The Mrs agrees as well (just give her a call to sound her out - I'm so sad)
Next week I aim to break daily personal pip records (without being silly about it). I feel that I left between 100-150 pips on the table through hesitation and not waiting for the PT to be hit. I also left a bagful yesterday for the same reason so I need to work on the discipline.
Glad to see that you're on top of your discipline and it is a blessing in disguise that you're down by 25 pips this week; afterall if the FX demons in your head aren't shouting at you then the substance of the discipline is weak. The demons shout the loudest when there are negative pips on the table (well mine do anyway) and you can only exorcise (through discipline) if they are present. I hope that makes sense.
Anyway my FX posse! Have a great weekend and next week we will rape the 95% (somebody has to pay -Damn those fx demons!!!! lol
dude, have a great weekend!! i'm off guys!!
cheers
Gaz
Welcome Brother, how long is medium to long term?
Hi firscall,
From several hours to several weeks.
Nice to meet you and thanks for opened up this thread.