Non-Farm Payroll release gives dollar a small boost

September 1, 2006

Today’s non-farm payroll report showed that more jobs were added last month. Employers in the U.S. added 128,000 workers to their payrolls last month, according to a government report. The gain in employment followed a 121,000 increase in July that was larger than econominsts estimated, the Labor Department reported today. The unemployment rate fell to 4.7% from 4.8% the previous month.
Positive news gave dollar a boost and allowing the EUR/USD to break out of the 1.2800-1.2840 trading range that was established earlier in the Asian trading session.

Today’s Strategy: Look for a price breakout at 12:30 GMT. SELL at 1.2804 STOP 1.2812 Limit 1.2760. Trail stop once the trade turns profitable.
 

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