Friday 8th January 2010

The US Non-farm payroll and unemployment data was released today. It normally should have come out last Friday but that day was a public holiday (New Year's Day). As always, I'm very cautious about trading on such days so I'm staying out of the markets. I would only have considered a trade if it was a very compelling one and if the set-up occurred well in advance of the US session (i.e. early in the London Session). Another consideration would be to take a trade (with a compelling set-up) after the initial flurry and effects of the news have subsided.