Last friday's NFP didn't have the customary reaction that people get at NFP news. It had been changed by the annual revision that showed that thousand more jobs were created during 2006 than was first reported. Thus the dollar dropped on the headline number then a delayed reaction was to buy dollar on the annual revision number.
Last friday's NFP did not have the usual response that we get at NFP news. It was affected by the annual revision that revealed that thousand more jobs were made during 2006 than was reported. Hence the dollar dropped on the headline number then a delayed response was to buy dollar on the annual revision number.
Ah yes, that may be the situation. Appears recently the Yen creates a U-turn not only on NFP. Durable products, ISM manufacturing, etc.. . All looked one-sided but moments later, it turns out the other way.
Good point on the revisions. My take on this is that if the number is reported, the tide of initial reaction is bearish- and also the chart justifies it. However, as the alterations come in, people had a different abstract opinion, and quickly goes the other way.
My take on this today when investing in the news is that do not brief the initial bounce unless the number is way out of line. Wait a couple of more minutes to get all of the news and then short the next bounce/ buy the next dip once I see a very clear imbalance between buyers/sellers.
Not only that spread went to 200, it also went offline for most people for at least 10 minutes after the launch, this has happened few days before, but this time beeing ready I decided to not set any stops which was a few smart choice on my part I must say ( not to brag or anything), the only reason im with oanda is my comparatively modest account and the fact that they're quite dependable for filling the orders.
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