The Advisor Weblog

Posted: 04 Nov 2011 04:22 AM PDT

Hi everyone ! Friday again, with another NFP; and ahead of the news, I have a couple of thoughts to share. First, the Canadian employment data was just released and was terrible bad, not just worse than expected, but really negative. Canada and the US are closely related and reports tend to come in line. Chances of a negative reading in the US have just increases exponentially.

On the other hand, I have been covering live this report for centuries with Fxstreet, and everyone wants to know about the euro. Don´t watch the euro with NFP; neither the Pound. Both currencies tend to remained trapped in ranges, in between dollar weakness/strength, and stocks rises/falls. The USD/JPY on contrary will react straight to greenback, while the AUD/USD will react straight to market sentiment. Both are far more interesting to trade than EUR/USD or GBP/USD.

Anyway! I have updated the Beginners Corner with all you need to know ahead of the news, so take a look at it here:

http://www.fxstreet.com/education/beginners-corner/

Have a nice trading day, and a better weekend!