Once again we will likely see U.S dollar as well U.S equities movement focused on the U.S Non Farm Employment report coming up in the next 15 minutes.
A better than expected number would be good for stock prices, and as we’ve seen the U.S dollar trading along side – one would expect a “beat” to also fuel further U.S dollar gains.
In the current “all is well have no worries” environment currently being sold – I’d be hard pressed to see this number disappoint as the expectations are so ridiculously low.
We can expect a large number of new bartenders and waitresses to be hitting the streets in the U.S soon.
It should do wonders for economic growth.
**** Quick Addition****
I had suggested yesterday that I was “already looking” to get short USD again – and boom! The weakness in U.S jobs numbers has actually put a dint in the “never ending bliss” of the U.S data as of late – and the USD has reacted considerably.
We are currently seeing U.S Dollar AND U.S Equities trading in tandem so……perhaps “now” we finally get the pullback / trend change in stocks, as USD rolls over here AGAIN – and heads for the basement.
I will loo at today’s action very closely – and will not be afraid to start putting on positions AGAIN SHORT USD.