News Update for Friday, Jan04, 2008 (8:30 AM EST US NY Time)
We have total three important data news today two of them coming out of US at 8:30 AM EST and other one from Canada at 10:00 AM EST time, this is very important and exciting event.
CAD IVEY PMI Data
US NFP Data
Extreme caution required on this data news event so trade forex signals accordingly...
CAD IVEY PMI DATA :
First Major News coming out from Canada is Ivey PMI Data which is most important news, it will come out from Canada around 10:00 AM EST US time.
The expected number to come is 51.5 versus 58.7 of last time. if the Canadian ivey data comes out at 48 or bellow it will spike up the USD/CAD by 50 pips or more in the first 60 minutes of the data news. don't miss the initial spikes, and if the Canadian Ivey PMI data comes at 55 or higher, it causes the USD/CAD down by 40 to 50 pips in the first few 60 minutes of the data news.
Strategy:
Sell USD/CAD if CAD Ivey PMI data comes around 55, the target will be 50 pips
Sell EUR/CAD if CAD Ivey PMI data comes around 55, the target will be 50 pips
Buy USD/CAD if CAD Ivey PMI data comes around 48, the target will be 50 pips
Buy EUR/CAD if CAD Ivey PMI data comes around 48, the target will be 50 pips
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US Non Farm Payroll Data:
This time Non farm payroll is expected lower than last month, On this first Friday of the month of January the US Non-Farm Payroll data is coming out from US. The previous number was 94 K, Now we are Expecting NFP data around 70K.
If the NonFarm data comes out above 130K or higher we will Sell EUR/USD and GBP/USD, but if the data comes around 40K or lower, our strategy would be to Buy/Long EUR/USD and GBP/USD and target will be 50 to 80 pips on either side.
Strategy:
Sell EUR/USD if NFP Data comes above 130K, the target will be 60 pips
Sell GBP/USD if NFP Data comes above 130K, the target will be 60 pips
Buy EUR/USD if NFP Data comes bellow 40K, the target will be 60 pips
Buy GBP/USD if NFP Data comes bellow 40K, the target will be 60 pips
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Traders are advised to Trade Instant Signals according to the News.. Newbie traders are advised to trade this event on demo account. if your Broker's platform wide their spreads during news time don't try to trade news data on that platform.
Traders are advised to put their own stop-loss and limits according to their own experience on open trades.
This Update will be also available on our blog shortly
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