Nonfarm Payrolls on July 6th
Are you ready for it?
With the USD being at such high levels and we get a very strong NFP print, and we see increased Average Hourly Earnings as well? That could be a difficult trade.
I mean, how much higher can we go on the USD Index before it causes major disruptions in Emerging Markets (it has already done a lot of damage for many revenue streams in Asia across many industry sectors) it is affecting Turkish Lira, Venezuela’s Oil industry and the South African ZAR and their Banking Sector.
This could mean further declines on the European and U.S. Indices as the global market is so interconnected.
If Asian markets start/continue tumbling because of a stronger USD then this price action will probably bleed in to the European markets session and then the same with the U.S. markets session. A domino, or knock on effect is highly probable.
Just to mention a few of the problems an increasingly stronger USD may pose. If we get a weak print ,of course we can expect the USD to fall in price, OR CAN WE?
It is not so straight forward these days.
The members of Forex Trust Club are here to guide you through and give you their opinions on what to do before, and, when the data comes out.
W can show you how to position yourself, manage your risk and how to psychologically react to such events in order to minimise risk and maximise your profits.