NFP Trading Signals
It’s Nonfarm Payrolls Day today and as usual, investors will keep an eye on the U.S. employment data as it provides a general sense of the market’s sentiment. A strong report may support a minimal 25 bp rate cut by the Federal Reserve, whereas weaker labour market figures could heighten the possibility of a 50 bp reduction at the FOMC September meeting.
In other words, expect some volatility at the release time at 12:30 GMT.
Daily Forex and DAX Signals:
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Our trading ideas for today 6/9/24:
EUR/USD
Long @ 1.1135
Short @ 1.1080
GBP/USD
Long @ 1.3190
Short @ 1.3140
Settings for all trades today: SL 25 TP 40
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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