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Video: Dollar's Reaction to NFPs Depends on Rate vs Risk View

Video: Dollar's Reaction to NFPs Depends on Rate vs Risk View

2014-11-07 02:10:00
John Kicklighter, Chief Strategist
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Talking Points:

• With FX volatility levels still elevated, the potential for a dramatic NFPs response is high

• The labor report has both a volatility component (NFPs) and a trend aspect (measures like wages)

• How the Dollar responds to the data depends on whether this release hits rate speculation or 'risk' more

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The Dollar is trading at a five-and-a-half year high heading into yet another top billing event risk: October NFPs. On the back of last week's QE3 close and hawkish view from the FOMC, FX traders are watching important updates like these closely. Rate speculation will remain one of the key filters the market will run this data through to gauge its market impact. However, a 'risk' impact from this catalyst could potentially set off a bigger bomb in the currency and financial markets. How will this data impact the markets and majors? What should we watch for and what should we consider for trade potential? We discuss that in today's Strategy Video.

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