In this Daily Trade Watch report, we look for high probability trade setups that we can trade throughout the day. Today, we have all eyes on NFP once more.
Having experienced G20 over the weekend, OPEC decided to extend supply restrictions for an additional 9 months. RBA reduced interest rates by 25 basis points and we are through a quiet trading day due to Independence Day in the US.
We are left with a subdued market looking almost exclusively at today’s Non-Farm Payroll numbers for impetus. The markets are expecting 164k jobs. This would represent a decent NFP number bearing in mind we saw a big miss last time out. If we see a positive NFP figure, we can expect this to be positive for the dollar with weakness in the Gold.
It will be interesting to wait for the news release before positioning ourselves.
All Eyes on NFP Once More – Full Video Analysis
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