The first week of the month sparks the trader’s most-watched event in the Forex market: the release of the Employment Report. Experienced and novice traders alike anticipate the release of this economic report on the first Friday of every month. It’s the most important economic report each month. It moves the currencies markets more than any other economic statistic.
The Employment Report also has political significance because President Obama and his team can graciously accept the reward for a strong jobs report or attempt to frantically explain a weak employment report (and weak economy) since the economic stimulus package that pumped more than $1 trillion into the economy. Last Friday showed that job losses hit a 26-year low in October.
For those traders who are unclear about what the employment report is, here is a brief summary. It reports on the number of jobs created (or jobs lost) in the previous month.
