US Dollar, EUR/USD and S&P 500 Face Trend Changes with NFPs
The past month has reflected exceptional volatility for the markets after the Fed made it known that they are ready to slow their QE3 program. We will see this 'Taper' speculation flare up with Friday's NFPs. The unemployment rate is the key target for the central bank, and the June jobs numbers are the first round of data we will receive since the central bank changed its tone. With the Dollar on the verge of breaking a decade-old trendline, EURUSD rushing towards 1.2800 and the S&P 500 trying to regain its critical bearish break; the stars are aligning for a serious market shift. We discuss how to assess the NFPs and what setups are best positioned for different outcomes in today's video.
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.