Forex Expert: Nonfarm Payroll Job Loss Will Be 522,000 -- Much Better Than Expected, Says Forex Expert, Wayne McDonell; Traders Should Consider Selling U.S. Dollar, Japanese Yen

Traders Should Consider Buying USD and JPY if Loss Is Greater Than 542,000

PEACHTREE CITY, GA--(Marketwire - February 4, 2009) - A forex expert estimates that Friday's Nonfarm Payroll (NFP) report will record a much better than expected job loss -- and recommends that traders consider selling the U.S. Dollar (USD) and Japanese Yen (JPY), if the estimate is correct.

"We are estimating a loss of 522,000 jobs in Friday's NFP report," says Wayne McDonell, Chief Currency Coach of FX Bootcamp (, a live forex training organization, and author of The FX Bootcamp Guide to Strategic and Tactical Forex Trading (Wiley Trading, September 2008).

According to Mr. McDonell:

  • The NFP job loss figures to watch are 522,000 and 542,000.

  • If the figure is 522,000 or lower, global stock markets will rally on the news that the numbers are not as bad as expected, and the appetite for risk and reward will return. Traders should consider selling USD and JPY.

  • If more than 542,000 jobs are lost, global stock markets will fall because the numbers indicate the economy is still contracting. The value of the dollar will increase as global investors seek U.S. Treasuries as a safe haven. Traders should consider buying USD and JPY.

"Currency traders should not pay too much attention, in the short term, to the actual headline number," Mr. McDonell says. "No matter what, it's going to show that the U.S. economy is bad. Instead, forex traders should stay alert to an NFP number that is significantly different from what the market expects. A 'less bad' number -- that is, better than expected -- can be good. A 'more bad' number -- that is, worse than expected -- could be terrible."

Wayne McDonell is available for interviews. For more information, or to schedule an interview, contact Itay Engelman of Sommerfield Communications at (212) 255-8386 or

About Wayne McDonell

Wayne McDonell is the Chief Currency Coach of FX Bootcamp, a live forex training organization, which has an audience comprised of members from over 50 countries. He is also the author of The FX Bootcamp Guide to Strategic and Tactical Forex Trading (Wiley Trading, September 2008), a top seller in the Foreign Exchange category. Mr. McDonell is a regular speaker at major investing conferences, including the upcoming Traders Expo in New York. He provides his weekly trading outlook on FOREX Television and his training videos are syndicated around the world on outlets including, MoneyShow, DailyFX, Yahoo Finance, MSN and others. As a professional forex trader, Mr. McDonell is a member of the National Futures Association and a registered Commodities Trading Advisor.

Contact Information: Contact: Itay Engelman Sommerfield Communications (212) 255-8386