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As you may know, today is the most important news announcement of the month, where we’ll hear the monthly jobs report from the United States.
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The market is already on edge after the Stock Market and the US Dollar saw a significant drop yesterday. So traders will really be looking for some hope in this announcement.
Analysts are estimating that 167,000 jobs were added in the month of May. If the numbers are disappointing. The sell-off could very likely continue. If the numbers are positive, then we may see yesterday’s movements retraced.
Either way the markets will be extremely volatile from about an hour before the announcement and until the end of the trading week.
For the many of you who are Copytrading – Most of the larger Social Gurus do better when the markets are stable. So let’s hope for some good numbers. The higher risk traders however, do tend to do better when the markets are volatile, so it may be a good day for some short term copies or to adjust your portfolio.