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NFP TODAY !

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By: Adam Stone
April 4th, 2014 8:20am GMT, London UK
 

Tension is high just before the release of the single biggest and most influential economic event of the trading month: NFP. The Non Farm Payrolls report, as released on the first Friday of each month by the Labor Department of the US, is going to rock the markets today as it does just about every month. But this month, after 3 weeks of incredibly volatile and a total lack of directionality in the markets. But what should or can binary options traders do to make a buck on the fastest rocket ship of the trading calendar?

For the trading day ahead, the NFP is expected to showcase a strengthening US jobs market. The forecast is for an increase to 200k new jobs created in the American economy and a further reduction of unemployment from 6.7% to 6.6% and binary options traders, as well as just about any other trader out there, are expecting the tumult to start to shake up these markets. The last result from last month was 175k and a result of 200k is very crucial to the outlook of the markets. The reason is that the Federal Reserve is looking at this result with great scrutiny. The Fed has set a benchmark of growth based on jobs creation of 200k. So whenever the result is lower or higher, it has great impact. The fact is, a result lower than 200k today could very well cause shudders in the market and a drop in value of both stocks and the USD. US stock indices will obviously suffer as a result.

NFP 4-4-2014

Binary options traders more focused on forex pairs have a tsunami to worry about though. You see, when the news strikes it can strike with a fury and cruelty very few in the markets even dare contend with. Currency traders are forced into very difficult positions during such news events. However, binary options traders need not suffer the same level of uncertainty. Due to binary traders’ ability to trade using both ladder and regular options before, during, and after the release the risk levels are secured and fall far lower than those known by equity and forex traders. It’s probably the single most attractive feature of binary options trading.

The EUR/USD is now trading just below the previous support at 1.3710 near 1.3699. While some may already consider this a break to the downside, we recommend simply hanging on the fence for the time being. With the NFP just hours away, stay alert and stay clear of positions that could lead you into disarray come crunch time.

The forex pair is likely going to keep the downside pressure until the NFP release so if you do choose to keep trading prior to the news, look for down options as they are more likely to make themselves profitable.

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Adam Stone
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Adam Stone

As COO of GOptions, my first and foremost goal is to provide traders with the most up to date info from the markets. I have been trading the markets since 2004 and have been involved with stocks, binary options, and forex trading since then. I have had no formal market education and pride myself on a self taught approach to everything related to trading. I try to focus though on both the technical and fundamental aspects related to each trading day and bring forward the most important aspects of risk/reward in the market.
Adam Stone
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