This is my second attempt at trying to understand if there is any trade-able longer term effect of the Non Farm Payroll data release. I couldn't see much on my previous chart based on the Dollar Index (tradingview.com/v/baiMVbkc/).
This time round I would consider the idea that good or bad news during an uptrend or downtrend can change the trend for a few days following that NFP data release.
I would probably also suggest that the dollar index is susceptible to so many more factors than the S&P500. The S&P500 is simply a measure of how well the top companies in America are doing and if those companies are creating more or less jobs than expected then I guess this could cause investors to pull out or pile in based on the NFP data release.
Comments
kanok.celestialbeing
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This is good chart if possible please update the chart. Very thanks
charttrader
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Thank you for the update.
charttrader
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Agreed.
oops
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Followed.
oops
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thx for the effort mike, this comparison obviously shows a much higher correlation with market reaction to expected numbers (especially NFP) than to your earlier version with US$ Index. good job !