It’s U.S. nonfarm payrolls day today and it could be somewhat complicate to predict in which direction the U.S. dollar will head. Should the jobs data come in significantly better than expected, the Fed will most likely stick to its higher terminal rate pledge. If payrolls are modestly weaker than expected, the market may not move much as this is what is already priced in with expectations for a lower peak rate and a 50bp rate hike this month. If jobs figures are sharply worse, recession fears and risk aversion will direct the market’s action.
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Have a wonderful weekend!
Our trading ideas for today 2/12/22:
Long @ 1.0560
Short @ 1.0520
Long @ 1.2285
Short @ 1.2190
Long @ 14490
Short @ 14420
Disclaimer: All trading ideas and expressions of opinion made in the articles are the personal opinion and assumption of MaiMarFX traders. They are not meant to be a solicitation or recommendation to buy or sell a specific financial instrument.
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