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What Will Nonfarm Payrolls Bring? Some Charts for Thought

What Will Nonfarm Payrolls Bring? Some Charts for Thought

2012-07-06 11:58:00
Christopher Vecchio, CFA, Senior Strategist
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We’ve compiled various charts for today’s US Nonfarm Payrolls announcement – the results might surprise you.

Below you will find the historical relationship of the ADP Employment Change report and the Nonfarm Payrolls report; how the EURUSD has fared in response to the previous Nonfarm Payroll reports; and intraday EURUSD price action following the release of the May and June labor market figures.

What_Will_Nonfarm_Payrolls_Bring_Some_Charts_for_Thought_body_Chart_1.png, What Will Nonfarm Payrolls Bring? Some Charts for Thought

Source: Bloomberg – Prepared by Christopher Vecchio

Two-year Correlation (ADP versus NFPs): +0.69

Six-Month Correlation: +0.73

WHISPER PRINT: +115-125K (forecast calls for +100K)

What_Will_Nonfarm_Payrolls_Bring_Some_Charts_for_Thought_body_Chart_2.png, What Will Nonfarm Payrolls Bring? Some Charts for Thought

Source: Bloomberg – Prepared by John Kicklighter

What_Will_Nonfarm_Payrolls_Bring_Some_Charts_for_Thought_body_Chart_3.png, What Will Nonfarm Payrolls Bring? Some Charts for Thought

Source: Bloomberg – Prepared by John Kicklighter

What_Will_Nonfarm_Payrolls_Bring_Some_Charts_for_Thought_body_Chart_4.png, What Will Nonfarm Payrolls Bring? Some Charts for Thought

Source: Bloomberg – Prepared by John Kicklighter

--- Written by Christopher Vecchio, Currency Analyst

To contact Christopher Vecchio, e-mail cvecchio@dailyfx.com

Follow him on Twitter at @CVecchioFX

To be added to Christopher’s e-mail distribution list, send an e-mail with subject line "Distribution List" to cvecchio@dailyfx.com

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