While Thursday proved to be a volatile trading day, the volatile but choppy swings in the market were not to our liking. Entries were triggered and stopped out due to heightened volatility but there was little follow-through on either side.
The U.S. dollar gained traction ahead of yesterday’s FOMC minutes but the statement did not alter rate hike expectations. While the Fed saw gradual rate hikes as needed given a very strong U.S. economy, some Fed members are concerned about intensified risks around trade policy.
The focus now shifts to the U.S. NFP report scheduled for release at 12:30 UTC.
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