US ADP Nonfarm Payroll (NFP) Change –
May 2, 2012 – Forex Trading Strategy
ADP or Automatic Data Processing (NASDAQ:ADP) is releasing it´s own estimate for
the private sectors of NFP (Nonfarm Payroll). This is a high impact release and it´s followed by currency
traders as they look for hints on Friday´s NFP official release. Here´s the
forecast:
8:15am NY Time US ADP NFP Change Forecast 180K Previous 209K
Deviation: 50K
Definition:
ADP Employment report was developed and is maintained by Macroeconomic Advisers, LLC. It is a measure of employment derived from an anonymous subset of roughly 500,000 U.S. business clients. During 2011, this subset averaged about 344,000 U.S. business clients and represented over 21 million U.S. employees working in all private industrial sectors. The ADP NFP report is a monthly estimate of private nonfarm employment among companies in the United States with 1-49 employees and is a subset of the ADP National Employment Report. The data for both reports is collected for pay periods that can be interpolated to include the week of the 12th of each month, and processed with statistical methodologies similar to those used by the U.S. Bureau of Labor Statistics to compute employment from its monthly survey of establishments. Due to this processing, this subset is modified to make it indicative of national employment levels; therefore, the resulting employment changes computed for the ADP National Employment Report are not representative of changes in ADP’s total base of U.S. business clients. (Taken from official ADPEmploymentReport.com…)
The Trade Plan
I usually don´t trade this release but I use it for future trend references. However, if the deviation of 50K is actually hit, the market probably wont have a problem pushing it, and this will undoubtedly change market perception for the NON FARM PAYROLL release; therefore its best to be around your computer during the release time rather than find out what happened hours later and potentially miss the entire movement.
BOOKS FOREX
Attacking Currency Trends: How to Anticipate and Trade Big Moves in the Forex Market (Wiley Trading Series) - Greg Michalowski - EUR 37,49
The Ultimate Day Trader: How to Achieve Consistent Day Trading Profits in Stocks, Forex, and Commodities - Jake Bernstein - EUR 12,04
Trading and Investing in the Forex Markets Using Chart Techniques (Wiley Trading) - Gareth Burgess - EUR 36,83
Deviation: 50K
Definition:
ADP Employment report was developed and is maintained by Macroeconomic Advisers, LLC. It is a measure of employment derived from an anonymous subset of roughly 500,000 U.S. business clients. During 2011, this subset averaged about 344,000 U.S. business clients and represented over 21 million U.S. employees working in all private industrial sectors. The ADP NFP report is a monthly estimate of private nonfarm employment among companies in the United States with 1-49 employees and is a subset of the ADP National Employment Report. The data for both reports is collected for pay periods that can be interpolated to include the week of the 12th of each month, and processed with statistical methodologies similar to those used by the U.S. Bureau of Labor Statistics to compute employment from its monthly survey of establishments. Due to this processing, this subset is modified to make it indicative of national employment levels; therefore, the resulting employment changes computed for the ADP National Employment Report are not representative of changes in ADP’s total base of U.S. business clients. (Taken from official ADPEmploymentReport.com…)
The Trade Plan
I usually don´t trade this release but I use it for future trend references. However, if the deviation of 50K is actually hit, the market probably wont have a problem pushing it, and this will undoubtedly change market perception for the NON FARM PAYROLL release; therefore its best to be around your computer during the release time rather than find out what happened hours later and potentially miss the entire movement.
BOOKS FOREX
Attacking Currency Trends: How to Anticipate and Trade Big Moves in the Forex Market (Wiley Trading Series) - Greg Michalowski - EUR 37,49
The Ultimate Day Trader: How to Achieve Consistent Day Trading Profits in Stocks, Forex, and Commodities - Jake Bernstein - EUR 12,04
Trading and Investing in the Forex Markets Using Chart Techniques (Wiley Trading) - Gareth Burgess - EUR 36,83
I would like to suggest that you stick with the #1 Forex broker.
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