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Equity Traders Lighten Up Ahead of U.S. Non-Farm Payrolls Report

Discussion in 'Forex Daily News & Outlook' started by futuretrends24, Aug 7, 2009.

  1. futuretrends24

    futuretrends24 New Member

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    Today’s sample of Futures Analysis from FuturesHound.com


    U.S. equity market fell sharply lower intraday but recovered into the close. The drop in the markets was one of the hardest we’ve seen in weeks as traders appeared to be liquidating or lightening up established long positions ahead of tomorrow’s U.S. Unemployment report.

    Earlier in the week the ADP report showed an increase in jobs lost but today’s weekly initial claims was better than estimated. This may have confused traders by leaving tomorrow’s report wide open for movement in any direction. Rather than risk the whole wad, it seemed investors were more content with trimming their positions.

    The U.S. Dollar strengthened on Thursday ahead of Friday’s unemployment report. Some foreign currency markets weakened due to position evening while others softened because of central bank activity.

    Read full article at FuturesHound.com as well as Futures Analysis, Futures Education and exclusive timely market Gann Analysis

    Disclaimer: Trading on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore should not invest money that you cannot afford to lose.
     
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