You might be surprised to find out that the Challenger name comes from the name of a company called Challenger, Grey & Christmas. This company is an outplacement consulting organization and it is saying to be the first, oldest, and premier in the field.
This one is released on a monthly basis, about three days after the month ends, end it shows the change in the number of job cuts announced by employers. While this is extremely early data, it does come to point to an educated guess relative to the ADP and NFP numbers.
Values lower than expectations should be interpreted as being good for the currency, while values higher than expectations are interpreted as being bad for the currency. This is still a second tier data, in the sense that markets as a whole rarely are influenced by this indicator, however, coming in extreme values, and it may turn into a game changer for trend followers.
The most important things to keep in mind regarding Challenger Job Cuts indicator:
- change in the number of job cuts announced by employers;
- released on a monthly basis, three days after the month ends;
- release time: 12:30 GMT, during North American trading session;
- second tier data.