Big moment for markets: NFP/Services preview
Following Powell's flip in script, the market is asymmetric around NFP. A strong number may not budge the doves while an indication of softness will reinforce it - however ...
Keep eye on the ISM services report as well as this saw a stark miss in December (49.6 vs 55.0 estimated). Another poor miss could sew the seeds of a hard landing in the US, forcing a sell-off in risk and supporting the US Dollar, especially if jobs are soft.
Looking at the charts, a bearish thesis risk is in play and a stronger US Dollar would be my preferred and easiest trade across FX, Gold and the DoW.
Keep eye on the ISM services report as well as this saw a stark miss in December (49.6 vs 55.0 estimated). Another poor miss could sew the seeds of a hard landing in the US, forcing a sell-off in risk and supporting the US Dollar, especially if jobs are soft.
Looking at the charts, a bearish thesis risk is in play and a stronger US Dollar would be my preferred and easiest trade across FX, Gold and the DoW.
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Follow me at FXStreet: fxstreet.com/author/ross-j-burland
Come on over to my YouTube channel and Level Up your trading! 💸💸💸💸💸 @RJBforex, Like and Subscribe!
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