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NFP causes everything to move wildly (check out forex), even the minutes leading up to the release. Of all the economic releases, the first Friday of every month (usually) should be most noted.
On the topic of news - check out the grain space. USDA report cut yields across the board, sending most grains limit up to start the 10:30a session. ie corn +6% wheat +9% beans +7%
Likely wiped out a few participants. Reminds me of the scene in Trading Places "Put the Duke brothers' seats on the exchange up for sale at once. Seize all assets of Duke and Duke Commodity Brokers..."
