NFP - Non Farm Payrolls Tomorrow - Futures Trading on August 4th - Support & Resistance Levels

Support & Resistance Levels

This Blog provides futures market outlook for different commodities and futures trading markets, mostly stock index futures, as well as support and resistance levels for Crude Oil futures, Gold futures, Euro currency and others. At times the daily trading blog will include educational information about different aspects of commodity and futures trading.

NFP – Non Farm Payrolls Tomorrow – Futures Trading on August 4th

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NFP, Non Farm payrolls or Unemployment numbers will be released tomorrow at 7:30 AM central. This is currently he biggest report as fed policy depends quite a bit on the labor market.

Be aware of the report, what market is expecting and how the market reacts.

I normally like to be flat 2 minutes before and stay that way for few minutes after until the “smoke clears” but every trader is different.

Source: Bureau of Labor Statistics (latest release) Measures Change in the number of employed people during the previous month, excluding the farming industry;

Usual Effect ‘Actual’ greater than ‘Forecast’ is good for currency;

Frequency Released monthly, usually on the first Friday after the month ends; Next Release Sep 1, 2023

Notes: This is vital economic data released shortly after the month ends. The combination of importance and earliness makes for hefty market impacts;

Why Traders Care? Job creation is an important leading indicator of consumer spending, which accounts for a majority of overall economic activity;

Also Called Non-Farm Payrolls, NFP, Employment Change

 

 

Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors.  You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time when it comes to Futures Trading.

Futures Trading Levels

08-04-2023

#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG

#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG

 

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Economic Reports, Source: 

Forexfactory.com

 

This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Inc. Any statement of facts here in contained are derived from sources believed to be reliable, but are not guaranteed as to accuracy, nor they purport to be complete. No responsibility is assumed with respect to any such statement or with respect to any expression of opinion herein contained. Readers are urged to exercise their own judgement in trading.

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