Fri, 06 Feb 2015
- This morning, markets are treading water as traders wait for the release of today US Non Farm Payrolls. As slight dip is expected, but as ever deviations from this will be the deciding factor not the absolute number.
- The dollar index is unchanged after closing below the 14 day moving average yesterday. Meanwhile the S&P 500 is pausing after an earnings inspired rally into the close.
- The big winners this morning are the Australian and New Zealand dollars which are rallying on the back of the release of the latest RBA minutes.
- The yen is dipping slightly, but the USD/ JPY is largely stuck in an ugly trading range. The EUR/ JPY is under performing, with the pair down 0.37%.
- The EUR/ USD is the worst performing dollar pair, slipping 0.17%.
- Coming up today we have UK trade balance at 09.30.
- At 13.30 we get the big ticket, with US non farm payrolls and unemployment claims. Canadian employment data is released at the same time.
- The USD/ JPY has been stuck in a tight range in the last couple of weeks, but this can’t last forever.
- A good way to play this could be an In/ Out trade predicting that the USD/ JPY will END Outside of either a high of 119.25 or a low of 115.25 in 14 days time for a potential return of 150%.
This is presented as an idea to stimulate fixed odds financial betting ideas and is not financial advice.