Pre NFP thoughts.

There is a case to say today's SERVICE ISM data is of more significance than NFP. Whilst I expect the usual volitility from NFP, I think it will be difficult to form a conviction until ISM is also reported.

What will it take for a trade? I'd like to see an alignment in both reports. Meaning, above forecast jobs, above forecast average earnings and above forecast SERVICE ISM, combined with US YIELDS going up, would warrant a potential USD long 1:1 Friday opportunity.

Or the exact opposite for a USD short.

Any 'mixed data' and I would most likely sit on the sidelines due to the potential of 'friday malaise' trading.

*For the record, I have manually closed yesterday's AUD CHF trade for a small profit of plus 0.3.

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