This morning the US dollar is under some pressure with the Aussie and Kiwi dollars bursting higher in early trading. The AUD/ USD is up 0.75% with the NZD/ USD up 0.65%. The British pound is not far behind with the GBP/ USD up 0.62%.

By contrast, the euro has been lagging with the EUR/USD up just 0.25% and the EUR/GBP down by 0.35%. Europe is not out of the woods yet. The USD/ JPY has gone back into its bunker of the range between 77.00 and 76.00 with no breakout in sight...yet.

Stock markets are dead in the water following three days of solid gains as traders await today's Non Farm Payrolls.

Today's trading will undoubtedly be dominated by US Non Farm Payrolls which are due at 13.30. Consensus estimates are for the reading to come in around 55,000 with unemployment remaining at 9.1%. We will see the usual initial wild movements following the 'number' then some sort of counter move as traders analyse the deeper statistics. Canadian employment data is released earlier at 12.00.

Before this we also have UK PPI input and output at 09.30 and German Industrial production at 11.00.With NFP effectively a lottery, it would be prudent to keep position sizes nominal if interested in making a play ahead of the number.

In this context, one trade idea might be to predict that the NZD/USD closes Monday outside of either 0.7650 or 0.7850 at BetOnMarkets for a potential return of 118%. By Dave Evans

Email: editor@my.regentmarkets.com
Url: www.BetOnMarkets.com

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Disclaimer: The above is a matter of opinion and is not intended as investment advice. Information and analysis above are derived from sources and utilizing methods believed reliable, but we cannot accept responsibility for any trading losses you may incur as a result of this analysis. Do your own due diligence.

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