Thursday 5 September.

It appears mixed US data has the market waiting for NFP before deciding on it's next move.

ADP jobs data was reported lower than forecast. And it looked like the 'risk off' sentiment would continue. But a decent jobless claims number and higher service PMI data seemed to appease the risk environment, which has left us in limbo until NFP.

Regarding NFP, it could be a very volatile event. The market is even more sensitive than usual to the potential outcome. Preferably, a solid number would ease the mood and re-ignite the soft landing narrative. But a disappointing number could cause another round of panic selling as the market once again worries about a recession. And I'm currently prepared to trade in either direction according to the data and the reaction.

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