Non-Farm Payroll – Crazy Whipsaw Action

Posted on 05. Mar, 2010 by Jakob in Random Noise

What a crazy day this has been. Both Non-Farm Payroll and US unemployment rate came out better than expected. There was a slightly bearish movement on EUR/USD just minutes before release, and bullish on USD/JPY. Right at release EUR/USD dropped about 50 pips within a minute and USD/JPY spiked up about 75 pips. Shortly after, EUR/USD turned around and is currently located above pre-release, while USD/JPY is still heading higher. I was trading USD/JPY, because of the tendency in the last couple of month; it is simply easier, and this month was exactly the same. I was trying to trade the spike, for the first time with FXCM. I was really amazed with the slippage. It took at least a minute before my order was executed. Nonetheless I still go a decent entry and made some 30 pips. All in all a really interesting day with a lot of volatility. That´s it for me. I will close the laptop down, and go grab a beer. Enjoy the weekend everyone.

Related posts:

1. Non-Farm Payroll Tomorrow
2. Non-Farm Payroll Recap
3. Non-Farm Payroll – Live Trading
4. Trading the U.S. Non-Farm Payroll
5. Non-Farm Payroll Tomorrow

Tags: Non-Farm Payroll