06 February 2023, GBP/USD
GBPUSD trading plan:
Traders are scratching their heads as to whether the US labor market is truly as strong as the latest employment report indicates or if wonky adjustments are getting in the way. Employers added 517,000 jobs in January — nearly double the prior month’s advance. The jobs report is composed of two surveys, one of households and the other of businesses. Each were affected by the Labor Department’s yearly fine-tuning process designed to paint a more accurate picture of the job market. The release included an annual update to the population controls used in the household survey, which tracks the unemployment and participation rates, as well as the employment-to-population ratio. The adjustment boosted the estimated population size by nearly 1 million and the civilian labor force by 871,000.
Investment idea: range 1.2010 -1.2141.
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