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NFP AT IT AGAIN

BITCOIN 781.950 11:20 03.12
BitCoin/CNY 5382.550 11:20 03.12
BITCOIN 782.045 11:00 03.12
BitCoin/CNY 5383.210 11:00 03.12
BITCOIN 782.136 10:40 03.12
BitCoin/CNY 5383.835 10:40 03.12
BITCOIN 782.186 10:20 03.12
BitCoin/CNY 5384.175 10:20 03.12
BITCOIN 782.498 10:00 03.12
BitCoin/CNY 5386.325 10:00 03.12
BITCOIN 780.288 09:40 03.12
BitCoin/CNY 5371.115 09:40 03.12
BITCOIN 781.315 09:20 03.12
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It’s that time of month again and before you being making any silly jokes, realize it’s the most serious of all trading day. It’s NFP (Non Farm Payrolls) day and that means big trading and bigger price action. Jobs are already on the minds of traders since early yesterday as the data that leads into the NFP started making its way into the markets for binary options traders. The fact is, it’s all a bit of a mixed bag and trying to anticipate the NFP’s actual result will be a daunting if not impossible task for traders of all types including those trading binary options. Doesn’t mean we won’t be trying.
The ADP nonfarm employment change report disappointed the market slightly as it showed a result of just 176k as compared to forecasts for a figure of 180k which is also the mark set for the NFP today. The slight dip didn’t cause much stir but it was a lower figure. Had it not been for the positive result of the Initial Jobless Claims just 15 minutes later, it would have possibly been a weaker day for binary options traders. The Initial Jobless Claims dropped again which means that fewer Americans were out looking for unemployment benefits this past week, a surprising result as markets were expecting at least 330k but only 323k actually registered. As a result of this, binary options traders started to look for up options on some technical breaks in the forex market as stock indices barely budged.
In the end, the S&P closed the session up 0.12% to 1655, the Dow closed just 0.04% higher to 14937, and the Nasdaq finished 0.27% higher to 3658. But a very strong showing by the NFP could lead the indices to better numbers today and a break of the 15000 for the Dow is a distinct possibility. However, take note that the NFP, which is expected today at 12:30 GMT, can have a massive effect on nearly anything and everything trading at the time of release. Binary options traders looking for a break of the Dow should jump on the chance if it makes itself apparent on the charts. At the moment, the stock index futures are actually pointing downward, leading us to believe that the market might open trading in the EU session with much trepidation into the moments before the release of the NFP.
Most forex pairs will be little moved until the release as well. Expect, the EUR/USD to remain within a very tight trading channel until the release of the NFP and binary options traders should also take into consideration that this means that it might become increasingly difficult to take up or down options on quietly moving assets. A better choice might be opting for currencies of the exotic cross type like GBP/CHF and other more volatile crosses that can shake things up while all else remains flat lined.

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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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