On the USD
Bit of a pre-Europe lull in markets isn't there..
Some strong USD thoughts:
- The USD, shown by the the DXY, maintains gains.
- Trade tensions a major bullish USD driver.
- Ironic that Trump had been lamenting USD strength, but his trade threats meaning the USD rallies.
- The USD is bid during times of trade uncertainty. Risk off.
NFP Thoughts:
- NFP today predicted to show a healthy labour market.
- Likely to rise by 190,000 jobs in July after increasing by 213,000 in June.
- To simplify your positioning, anything near expectation should be a straight forward bullish USD signal. Just an 'as you were' signal within this strong USD environment.
Chart musings:
- Ascending triangle.
- Momentum looking to break out to the upside.