Monday 8 September: NFP fallout.

It is very pleasing to see Friday's NFP data hasn't as yet created a 'risk off narrative', I would suggest the USD and CAD remain 'good short options'. But also political instability in Japan places the JPY on the 'to short list'.

All in all, the soft landing narrative remains in tact.

Despite political uncertainty in France, the EUR remains relatively bouyed, which probably keeps the CHF off the 'to short list' for now.

Today's EUR USD trade remains in play. Once it has completed (for better or worse), until something changes, I'll continue to look for 'risk on trades' which currently comprises of USD, JPY or CAD short... vs AUD, NZD, GBP or EUR long. Preferably on pullbacks creating 'nice support'.

I envision this narrative could remain until US CPI data.

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