ADP Non-Farm Payrolls Expected Today!
June 3rd, 2009 Posted in Daily Forex News
03 June 2009
12:15 GMT: ADP Non Farm Employment
• Monthly economic indicator used to measure the change in the number of employed people, excluding the farming industry.
• This release tends to create either big changes to current trends or push current trends even further.
• The release of the survey typically creates a volatile trading environment, affecting not only the USD pairs but also the value of Crude Oil and Gold.
• Very positive result will push the dollar up.
• This indicator is a “preview” for the Non-farm Payrolls report expected on Friday, and is considered to be quite reliable.
14:00 GMT: Fed Chairman Bernanke Testifies
• Fed Chairman Bernanke is due to testify before the House Budget Committee, in Washington DC.
• He’s expected to refer to the federal budget and to discuss current financial conditions, and thus his speech is likely to affect the Dollar as well.
• It is likely to set the pace of the Dollar going into the rest of the week’s trading.
Crude Oil
• Oil prices have risen every day since May 21 on snips of moderately good news.
• As for today, crude oil inventory release is likely to help determine the market’s next direction.
• A release of a string of positive economic figures could continue its bullishness.
• Traders are advised now to make some profits as the price of Crude Oil is set to remain volatile in the short-medium term.
Start trading with Yan Petters now:
Tags: ADP Non Farm, Crude Oil, daily tips
