Posted by William P. Eason on October 02, 2015 - 1:49pm

Biggest event of the month coming up today at 12:30 gmt.

Binary traders will trade the U.S dollar, gold and silver today. It is possible to add the German Dax to the trading portfolio.

The correlation between the Dax and NFP is positive, meaning Good numbers usually support the Dax and vice versa.

The expected number is 201,000 new jobs, wage growth of 0.2% and unemployment rate steady at 5.1%. Results as expected will be considered good but binary traders should also look at last month revision.

The August number of 173,000 jobs could be fixed today and any revision above 200,000 can add much more support to the dollar.

A strong NFP will trigger expectations for a rate hike at the end of the month when the Fed decides again.

Gold could be the main asset today and is currently trading around $1109 an ounce.

Targets for gold on a strong NFP, meaning potential put options, are $1102 an ounce and later $1084 an ounce.

A disappointing NFP, meaning potential call options, should push the commodity back to $1120 an ounce and then $1155.

The closer this event gets to the first rate hike the more volatile it is but much more profitable!

 

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