A Case For Understanding Economic/Fundamental Market Analysis
It is the first weekend of 2023. I hope you are holding up well with your new year's resolutions. I will keep this simple and short like I always do. That being said, let us dive into the meat of the matter at hand. Friday the 6th of January 2022 saw the release of the Nonfarm Payrolls (NFP) data for December 2022 by the Bureau of Labour Statistics in the United States of America (USA/US). This NFP data is basically the amount of non-agricultural jobs created per month in the US. EURUSD 1H : 6/01/2023 I'm here to make a case for currency speculators who insist on understanding the economics behind financial markets. That is to say, NFP releases usually inject a lot of movement into markets as you can see from the large hourly candles after it was released at 8:30 am New York local time. It is important to note that this release is always accompanied by other releases such as average hourly earnings as seen below. Some retail speculators have a religion of expecting the US do...