Strategy Video: Dollar and S&P 500 Trading Strategy for NFPs
• A status quo Fed balanced the 1Q growth report, but the employment data can offset this stability
• Our first concern in this event risk is how market moving it will be for FX and capital markets
The final trading day of the week will keep traders on their toes with the release of the April US NFPs. A dense round of economic releases through Wednesday - the peak of activity this week - resulted in little of the reversal in volatility and trend that we hoped for, but the labor data can provide another spark for this arrid market. With interest rate expectations and risk trends trying desperately to cling to fading ranges and evaporating fundamental reasoning, a meaningful gust of wind from this report can tap a deeper well of uncertainty. We look at what is important in this event risk and the trading plan around it in today's Strategy Video.
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.