Trading Ideas for NFP November
Trade Ideas ahead of NFP
The markets have been on a rollercoaster ride this week, digesting Central Bank decisions, monetary policy outlooks and trade war uncertainty. This all played a part for volatility this week, and this does not even include the decison to proceed with the Trump impeachment.
With US Stocks reaching new all-time highs this week, and the flight to safe havens back in play, by way of both Gold and the Yen increasing in value – all eyes now are glued to today’s NFP release. The USD/JPY is an interesting market to watch, amid the Bank of Japan holding rates, bears have gone at this pair, seeing an opportunity to sell this pair below the 108s, opening up new monthly lows.
Philip just released a video on his ideas and you can see the link below, where he discusses several FX market opportunities and ways in which you can strategise around the Jobs report reaction.
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As investors turn risk-on equities this week, both Gold and Silver experienced a significant sell off, based on news that the US may remove tariffs on China. This led to US Stocks recording new all-time highs, with the Dow Jones up over 2.3% this week and a safe-haven trade wind down, as Gold and Silver slumped 2.3% and 5.2%, respectively.
The trend of GDPUSD The US dollar and the pound were steady on Wednesday, and EU leaders are considering a request for a postponement of the Brexit, which is expected to extend the October 31 deadline by three months. European Council President Tusk said on Twitter...
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