ADP data in the limelight.

The risk environment has continued to hold steady but delicate. It wouldn't take much to see a return of 'risk off' and it seems traders are waiting for today's US ADP data. A number below expectations could see panic set in again. Or, hopefully, a positive number would be good news is good news and the 'risk on' environment will get an extended boost.

So, once again, with no trades yet this week, it's a case of staying patient and waiting for confidence in the risk environment to place a trade.

Feel free to email any thoughts or questions: johnelfedforexblog@gmail.com