Payroll Day Jitters

Morning Report: 09:00 London

• This morning, it seems that market participants are keeping their powder dry ahead of this afternoon’s big US jobs announcement. As well they might, with the situation in Ukraine developing by the hour and US companies still producing their latest earnings figures.
         

• There’s little movement to speak of, but it’s worth noting the yen pairs are on the rise again. This is primarily thanks to a rebound in the US dollar index.
                                                                                                                                                           

• The euro continues to lag, especially against the British pound.

                             
                             
                          

Coming up today:

• Today we have UK construction PMI at 09.30.

• The day’s main event is US non farm payroll, with a gain of +216k on the cards and the employment rate expected to dip to 6.6%.

Trade Idea:

• The British pound has continued to show out performance as the UK economy recovers. There are some concerns about the over reliance on the housing market, but this could take some time to come to fruition.

                             

A good way to play this is a HIGHER trade predicting that the GBP/JPY closes above 173.40 in 3 days time. This could return 128% if successful. 

This is presented as an idea to stimulate fixed odds financial betting ideas and is not financial advice. 

Summary: