US Non-Farm Payrolls June Preview

[lovethetrade]

• Payrolls expected to increase by 3 million jobs.
• ADP June private payrolls rose 2.369 million, May revision adds 5.825 million.
• Manufacturing PMI unexpectedly jumps into expansion at 52.6.
• New orders in manufacturing soars to 56.4 from 31.8 with the largest gain on record.
• US dollar has retreated from its two-week rally.

https://www.fxstreet.com/analysis/u...w-the-delicate-art-of-prediction-202007012113

 

[maxinger]

actually all these numbers and actual payroll numbers are useless for day traders.

when the data is released, we will be focusing 100% on the chart.
we don't care how good or bad the data is.
We will be trading based on what the chart says.

 

[S2007S]

I keep hearing it does NOT matter what economic numbers are. Left right up down ...the fed is everything....the economic numbers can be anything and the fed will still be the backstop to the market every second of every day. Forever.......

 

[S2007S]

Yep another totally missed prediction.

This should push the nasdaq to 11k in July and 12k in August

S$p to historical highs in july.

Free money


US jobs increase by 4.8 million in June, vs 2.9 million estimate; unemployment rate at 11.1%

 

[lovethetrade]

actually all these numbers and actual payroll numbers are useless for day traders.

when the data is released, we will be focusing 100% on the chart.
we don't care how good or bad the data is.
We will be trading based on what the chart says.

I understand what youre saying and you're entitled to trade that way but I think traders that are in sync with the economic data weighed up against other fundamentals have an additional edge and can take on more risk.

 

[maxinger]

I understand what youre saying and you're entitled to trade that way but I think traders that are in sync with the economic data weighed up against other fundamentals have an additional edge and can take on more risk.

no problem mister.
different people trades differently.
Traders use or totally ignore financial data/news ... for their trading.

 

[Same Lazy Element]

actually all these numbers and actual payroll numbers are useless for day traders.

Repeating again and again that the only thing that matters is that asset is "tradeable" is counterproductive at best. Not everyone here is a chartist day trader, plenty of people who trade long term positions based on macro views or look at events for some other reasons.