Daily Market Analysis March 9th, 2015

Reading Time: 2 minutes

Binary Options Tips WhyoptionsGood morning traders,

Friday, 6 March saw another release on the Non-farm Payrolls (NFP) data were high hopes were investor’s sentiments. This was concerning the United States labour market release which remained the peak of last month’s NFP. Nothing changed in this months delayed announcement, appears that the US labour market remains on track and the chances of a rate hike in June are imminent.

The March NFP, rose by 295k, breaking through expectations of a forecast of 240k. The unemployment also decreased to an all-time 7 and a half year low of 5.5% a slight drop from the previous month by 0.2%. This is a major improvement from February’s NFP 239K.

Non Farm Payroll March 2015



The increases in wages have not been considered by the Federal Reserve as they decide on the rate hike in June. They are in agreement that the reports are strong however, they are not exactly perfect enough to be patient whilst waiting on the highly anticipated hike. The other big wonder to investors is regarding the economic data that surrounds the increased wages and job growth in the USA as well as the evolution of this over the next few months.

Overall the market continued to favor the bullish trend and its support for the USD, it traded 1% higher on Friday the probability of this maintaining its growth this week, to me looks like it has a good chance.

On the downside, the Euro (EUR) saw yet another drop against the USD to below 1.10 and a renewed 12 year low to lesser than 1.0900.

In its fifth consecutive session, Gold is still hovering around, at a low of $1165 and might very well just maintain its low for another session, shedding a 2% level since December. Gold started at $1190, on Friday morning prior to the NFP report. Taking a huge blow and suffering as the USD strengthens, the precious metal has been losing ground the entire year of 2015.

Another loss to the great USD was the Yen (JPY). The USD / JPY reached a 3 month high on Friday after the NFP report the pair started at $121.27 and after the US session that buffed up the labour market report for the USA the lows just kept on coming and the pair dropped though to $121.00, this pair has a fighting chance this week to recover in my opinion.

In its worst week since 2010, the GBP/USD lost nearly 200 pips after the NFP. In the past five days, this pair has lost ground, accumulating a total defeat of 350 pips lost this week alone making its worst performance in 5 years. Despite the sad decline against the USD, the silver lining for this currency is that it finished higher against the Euro (EUR) and the Swiss franc (CHF) closing at a seven-week high for the GBP/CHF.

Weekly Binary Options Trading Tip:

There is an importance of keeping a trading diary when you embark on trading. This will ensure you make your mistakes however learning from them, in the long run. Simply record every trade on an excel sheet. Mental notes will soon be taken over by other trades, but keeping a track record and reflecting on your trades will assist you with new strategies and perfecting your trading skills.

Happy Trading!


Best Binary Options Brokers

Broker Bonus Min Deposit Payout US Traders Review Open Account
GOptions Up to 100% $200.00 Up to 90% Review Visit Broker
24Winner Up to 150% $200.00 Up to 85% Review Visit Broker
OptionBit Up to 100% $250.00 Up to 100% Review Visit Broker
Follow me

Jason B Kruger

Professional Trader at WhyOptions
Jason B. Kruger is a Professional Trader & Chief Editor for WhyOptions.com, who is considered ‘The Authority’ on Binary Options Trading Strategies, Reviewing Brokers,Providers and their Products.
Follow me

Latest posts by Jason B Kruger (see all)

Tagged with:

Binary Options Trading carries a high degree of risk to your capital. Please ensure you fully understand the risks before you start trading,and if necessary seek independent advice. Whyoptions advises its clients to read carefully the terms and conditions of each broker before opening an account. Copyright © 2014. All Rights Reserved - Whyoptions.com