Trading Strategy

What is it? Job creation is an important leading indicator of consumer spending, which accounts for a majority of overall economic activity.

When? At 8:30am Eastern Time.

Trading Tip: If the actual number is higher than the forecast, you can expect the CAD to rise.

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05

Nov

Tomorrow (Friday) the Non-Farm Payrolls will be announced. Here is what you need to know:

Non-Farm Payrolls (NFP) Employment Change is a vital economic data released shortly after the month ends. The combination of importance and earliness makes for hefty market impacts. Job creation is an important leading indicator of consumer spending, which accounts for a majority of overall economic activity. Change in the number of employed people during the previous month, excluding the farming industry.

The Announcement is set to make big impact on trading markets, especially on USD/EURO in FOREX market, and Gold and Silver in the Commodities market.

This specific announcment is going to be even bigger for the U.S economy, if it goes well it will indicate that the U.S economy is getting stronger and healthier and will raise the chance for a rate hike by the U.S Federal Bank.

So be sure to speak with one of our agents to ask them how can you profit from tomorrow's crucial announcment.

Click on the Chat button below for more details:

1. U.S. stocks indexes moved higher on Thursday morning, boosted by strong results from Facebook (O:FB) and as financial stocks rose on the possibility of a rate hike next month.

Facebook shares rose 5.3 percent to a record high of $109.44 after the company's quarterly results beat estimates. The stock gave the biggest boost to the S&P 500 and Nasdaq.

2. Oil prices extended losses from the prior session on Thursday, as the ongoing glut in global supplies continued to weigh on the commodity.

Crude oil for delivery in December on the New York Mercantile Exchange shed 29 cents, or 0.63%, to trade at $46.04 a barrel during U.S. morning hours.

3. New U.S. applications for unemployment benefits last week recorded their largest increase in eight months, but remained at levels consistent with a fairly healthy labor market.

Initial claims for state unemployment benefits rose 16,000 to a seasonally adjusted 276,000 for the week ended Oct. 24, the Labor Department said on Thursday. It was the largest weekly gain since late February.

4. The pound extended losses on Thursday, falling more than 1% against the dollar after a dovish Bank of England quarterly inflation report signaled that interest rates are likely to remain on hold for an extended period.

GBP/USD was last down 1.04% to 1.5225, the weakest since October 13 from around 1.5389 earlier.

5. U.S. nonfarm productivity unexpectedly rose in the third quarter as a decline in self-employed workers contributed to overall hours worked falling for the first time in six years, restraining labor-related production costs.

The Labor Department said on Thursday that productivity, which measures hourly output per worker, increased at a 1.6 percent annual rate after increasing at an upwardly revised 3.5 percent rate in the second quarter.

6. The U.S. dollar rose against its Canadian counterpart on Thursday, as expectations for a December rate hike in the U.S. continued to support despite the release of disappointing U.S. jobless claims data.

USD/CAD hit 1.3181 during early U.S. trade, the session high; the pair subsequently consolidated at 1.3175, adding 0.20%.

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Earnings continue to dominate the market agenda on Thursday.

U.S. stock futures set to positive open.

Here are 4 tips for today's trading. This will help you decide where you should invest and what to look for:

1. Stock market movers

Takata shares closed another 25% lower in Tokyo. Mitsubishi and Mazda (MZDAF) are reportedly considering severing their relationships with the airbag maker. The reports come a day after Honda said none of its new models under development would use Takata (TKTDY) airbag inflators.

Facebook (FB, Tech30) posted an attractive 11% earnings boost. It announced that most people are now using Facebook on their mobile phones, cementing its domination of the coveted mobile market. Its stock is up more than 4% in premarket trading.

Qualcomm (QCOM, Tech30) is suffering premarket with its shares down 6%. It posted better than expected results Wednesday, but investors were shaken after it announced a weak outlook for the current quarter and said it would no longer issue guidance about its annual earnings.

Whole Foods (WFM) reported its same-store sales were negative last quarter, sending its stock down 6% in premarket.

Adidas (ADDDF) shares are popping 5% in Germany. On Thursday it posted positive third quarter results, sales and earnings were up in almost all global markets and the sportswear company has raised its full year guidance.

2. Earnings

AstraZeneca (AZN), Crocs (CROX), Ralph Lauren (RL), Martha Stewart (MSO), Time (TIME) and tech firm Symantec (SYMC) are posting earnings before the bell. After the close, Dreamworks Animation (DWA DREAMWORKS), Walt Disney (DIS) , TripAdvisor (TRIP), Weight Watchers (WEIGHT WATCHERS WEIGHT WATCHERS), Kraft Heinz (KHC), and Shake Shack (SHAK) will report.

Investors will want to see if Oprah Winfrey's backing of Weight Watchers (WEIGHT WATCHERS) is paying off. The media mogul has already done well from the deal -- she gained around $72 million in the 36 hours after buying 10% of the company as its shares surged.

Ralph Lauren's earnings mark the end of an era. Founder Ralph Lauren announced in September that he would step down as CEO. Former Old Navy President, Stefan Larsson took over as CEO this month.

3. Economics

On Wednesday Federal Reserve Chair Janet Yellen suggested interest rates could go up in December but said they would likely rise slowly from then on.

Weekly U.S. unemployment data is out at 8:30 a.m., a day ahead of the government's monthly jobs report.

4. Markets overview and recap

European markets are down in early trading, while Asian markets ended mixed with the Nikkei and Shanghai Composite ending with strong gains. On Wednesday, the Dow Jones industrial average shed 0.3%, while the S&P 500 was down 0.4% and the Nasdaq dropped 0.1%.

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What is it? It provides valuable insight into the bank's view of economic conditions and inflation - the key factors that will shape the future of monetary policy and influence their interest rate decisions.

When? At 7:30pm Eastern Time.

Trading Tip: If the announcement will hint towards higher interest rates, you can expect the AUD to rise.

Ask us about our FREE financial advice program: 

Other Top Stories:

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Technical Analysis Lesson 1 - Introduction

How I Made Over $30,000 a Year by Investing in Binary Options

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