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Trading Video: Trading EURUSD Through ECB Decision, NFPs and Week End

Trading Video: Trading EURUSD Through ECB Decision, NFPs and Week End

2014-07-03 02:13:00
John Kicklighter, Chief Currency Strategist
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Talking Points:

• High level event risk in the form of the ECB rate decision and NFPs is due today

• A volatility swell in calendar items will conflict with a seasonal and systemic volatility drain

• The shift in market activity - coming perhaps as early as next week - is a key

See volume behind the majors during the NFPs and ECB rate decision to gauge your trading approach using the free FXCM Real Volume and Transactions indicators.

It looks like EURUSD traders will have an busy day ahead of them. Both the ECB rate decision and June US NFPs are due this session. And, given the interest in the dispirate monetary policy bearings between the two major central banks and currencies; the probability of a burst of volatility is high. That said, there is vast difference between a bout of volatility and a lasting build in participation that can feed a trend. Market conditions will work against against this event risk's ability to generate a larger shift from the dollar, euro and speculative appetites...at least through the end of the week. What should we expect from this clash between key event risk and record low volatility measures? We discuss that in today's Trading Video.

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