Equities are off, the dollar's ascent has been stopped in its stride and sentiment has turned sour after the EU retaliated to the the Trump tariffs with a raft of levies of its own.
Squawk / 03 October 2016 at 13:09 GMT
Manager / Tashkent designer
Dear Steve,
Very Gud morning.
Please suggest one currency pair trade before NFP data & with hedge currency if it goes against to minimise loss.
Thanks take care Steve .

Stephen Pope Stephen Pope
Hi Vanita,
Looking at US economic calendar I see a heavy week of Fed talking heads:
Tue Lacker, Wed Kashkari and maybe Lacker again, Fri (after Employment data) Geotrge and Brainard.

I would sell EURUSD as the technicals favour selling with just two listed as neutral.
Now EURUSD at 1.1233 but be wary of a break over 1.1261 as that openes risk to 1.1303 and 1.1327.

Hard to find a good hedge...GBPUSD heavily tipped to see £ fall. This is the last week of political conference season in UK and PM said that Brexit talks will be triggered before
March 31 £ will be on backfoot.

Maybe try selling USDJPY but wait till midweek as early technicials are for a Strong Buy.
Now 101.52...I expect $ strength and see any $ break over 102.38 openeing a door to 104.01.

Look at the forecasts for the Friday jobs data.
Avg Hourly Earnings exp 0.3% pv 0.1%
Non-Farm Payroll exp 172,000 pv 151,000
U/E exp 4.9% pv 4.9%
vanita vanita
So Steve if I sell eurusd at this levels den I should sell usdjpy as a hedge rgt.
Stephen Pope Stephen Pope
I would prefer to be short EURUSD as a "naked" play...but if you want to hedge...selling USDJPY may be the best...but I would make the sale into the week, maybe late tomorrow or on Wednesday.
vanita vanita
Thanks Steve..


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