HFM Nigeria Octafx Trading Tips

Non-Farm Payroll (NFP) Live Analysis📈
📅 10 May, 2024
🕑 1:00 PM

Our Market Analysts will review the expectations into NFP and find trading opportunities once the data is released.
Traders of all levels of experience can learn from this opportunity to ask questions about trading high-impact data release, volatility, analysis, and risk management.

In this session, you will:
✅Watch our Market Analysts analyze the market before, during and after the data release
✅ Learn how our Market Analysts take opportunities real time during NFP
✅ Get insight on how professionals approach their trading.

You can join online using the link below
https://bit.ly/NFPLiveAnalysis

Friday, 8th of March 2024 (European Market)

NFP closes out a stellar week

-The US Dollar has lost broadly through the week with dismal economic data and also dovish remarks by FED Powell has pinned the greenback lower. Can the NFP today provide some relief for the US Dollar today ?

-Going into the event, a lower than expected report would do more damage to the dollar especially against the JPY while an higher than expected report should provide some relief for the currency especially against the EUR and GBP.

-There's not so much in terms of moves ahead of the events today although the AUD is slightly ahead while EUR lags the most amongst the majors. EURAUD is down 0.35% today following retracements from trading yesterday.


GOLD traders alert ahead of NFP

-GOLD continues to hold on to highs around $2170 but moves are so far limited today. Traders are on deck for the NFP release later to trade the asset - a beat in print spells downside risk for the yellow metal.

-USOIL found a push yesterday to trading around $81.00 before eventually running into resistance. Price is now trading around $79.30 on the day but there could still be opportunity for further upsides.


Sentiment and Cumulative Strength/Weakness

-Risk mood (sentiment) is tentative ahead of the key event today. Equities are not exactly doing too much today while Commodities are also mostly mixed on the board as of now.

-In FX, there's also a mixed start to proceedings this morning and there's actually a lack of appetite to chase moves today

Cumulative strength: NIL
Cumulative Weakness: NIL

-All eyes on the NFP later today; Surprise factor is something we should look out for today. A lower than expected print should see US Dollar strengthen across board and vice versa.

-Looking ahead, it's expected to be a placeholder session until the US NFP session later in the day.

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