PipStop

It's officially just over three hours to the time that the United States will release its Non Farm Payroll data. Not only that but preceding that by 45 minutes is going to be the ECB interest rate decision.

Trading Post is holding a special Non Farm Payroll webinar for the second consecutive month and this time around there is expectation of fireworks. Trading Coach Harold Fretheim will not be available as he spends the July 4 holiday with his family, but he did make a few remarks before he left.

First, 45 minutes before the Nonfarm payroll the ECB will announce an interest rate decision. The ECB is expected to raise the rate from 4% to 4.25%.  And the press conference starts 45 minutes later. Which means that Nonfarm Payrolls will come out at the very moment that Trichet first opens his mouth to speak. Given that that press conference frequently moves the market more than the decision the result could be lively.

Don't forget that the market frequently gets a second wind as the stock market opens up in NYC.  As the stocks respond to the NFP the currency market responds to the stock market.

And, even after that, at 10 AM EDT you get yet ANOTHER major announcement: The Non-Manufacturing ISM will be coming out.  So the fun may well continue.

I look forward to a potentially volatile morning, and hope to see all of you on the webinar.