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NFP- Not For Professionals

Excerpts from The Trader Advantage Program

Global markets and forex pairs are going through the standard procedure ahead of the first Friday of each month, in anticipation of the much-maligned Non-Farm Payroll employment report from the U.S.

The derision tends to be directed to the constant revisions to the previous three months of data, and the fact that in the world of instant information and concise delivery of standard-format data, this report misses expectation every time.

The survey is made up of huge swaths of guesswork and statistical conjuring that crafts a release that although inconsistent draws the attention of global markets, and impacts trade for the following months.
 
Traders can see the impact in virtually all asset classes, and on the S/P equity futures chart can point out the price action on the first Friday of each month, and will undoubtedly see that price reaction to NFP numbers sets a trend for the following month of trade.

The wild swing towards an expected read of +400K just four weeks ago to an expected read of -130K this month is something that the markets will have to absorb in very quick time, and also reveals the flaws in the report.
 
Inconsistent, non-transparent, unreliable, and volatile are not conditions that are conducive to solid global trade, and that is why first-of-the-month Fridays are such a joke when it comes to plotting a course to trade. 

 

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