Australia Employment Figures

Pair: AUD/USD
Bias: Long
Result: Buy
Spread: 15 pips
Profit: 10 pips
Peak move: 29 pips

I missed this one as I was too tired and the trade would have been at 12:30am UK time. Slightly disappointed that I missed it as there was a small amount of profit to be taken. The price drifted up nicely for several hours after too – see screenshot.

Forex25 comments
Dont trade above 10 pips spread. Well after last month suprise drop to -30 this month should come in better based on the research I have done. The biggest growth would be in construction and mining. One interesting stat I saw was there is a sharp decline in job advertising in Australian newspapers and online. This will have no effect this month as the numbers lag but suggests a slow down in the job market in the future.

UK Industrial Production

Pair: GBP/USD
Bias: Flat
Result: Sell
Spread: 15 pips
Profit: 38 pips
Peak move: 56 pips

Despite the 15 pip spread I got a great fill (High of the opening bar was 1.9693, and I got filled at 1.9686, a slip of 6 pips). My order was filled before the market moved at all, it spiked about 5 secs later. Nice trade.

Forex25 Comments
Dont trade above 10 pips spread. This has been a nice little trade in the past. Let’s hope it hits.

Description
Measures the total value of output produced by factories, mines, and utilities. A rising trend has a positive effect on the nation’s currency because high levels of production are a sign of a strong economy. Industrial Production reacts quickly to the ups and downs of the business cycle and can be a leading indicator of manufacturing employment, average earnings, and personal income. Traders pay special attention to Industrial Production because it’s one of the few growth indicators that is produced directly by the Federal Reserve.