Yes folks, the eagerly awaited US Non-Farm payrolls are out at 12.30 GMT
It may have all been about Brexit this morning but now the focus turns to US wages and jobs data.
Note I put wages first, as I do with the similar UK report. Jobs and levels of employment are important for sure but it's also key as to how much income those in work can generate . If rate hikes are to continue with any regularity then households need to be able to withstand the shock as well as contribute to economic growth
Anyhow rather than do all the second-guessing regular readers know my stance on these occasions.We can, as always, expect the initial algo-led reaction however the report plays out so be ready with your entry/exit levels from whichever side you want to play.
Placing limit orders in advance can often be useful given the occasional speed of moves and subsequent reversals, although equally it can be prudent to wait and manually trigger executions once you've sized up the data in its entirety and gauged the price action.
Remember, ours is not to reason why, ours is just to sell and buy.