During the last 3 days, EUR/USD has lost around 100 pips. And again it was all about speculations and panics. It was all about Trump.
The US President has gained market attention by its surprising tweets already several times. No wonder, investors are keen on hearing something new from him, and this time was not an exception.
Recently, Donald Trump has talked on great job numbers. We don’t know what he meant exactly, but we know the Non-Farm Payrolls release is coming. And some investors took it as a hint this Friday we can see positive data.
In fact, it’s a rather realistic scenario, given the story that happened in June. Trump said that very good GDP numbers would be announced soon, and some time later we saw Q1 GDP revised higher.
How to trade the news? The market has already priced in strong Non-Farm Payrolls data, and it means that USD may be overbought. If Friday brings lower than expected numbers, it will trigger broad based sell-off of the American currency.
Under such scenario, the current levels of EUR/USD look very attractive for bulls, and the next upside target is at 1.1410.
The US President has gained market attention by its surprising tweets already several times. No wonder, investors are keen on hearing something new from him, and this time was not an exception.
Recently, Donald Trump has talked on great job numbers. We don’t know what he meant exactly, but we know the Non-Farm Payrolls release is coming. And some investors took it as a hint this Friday we can see positive data.
In fact, it’s a rather realistic scenario, given the story that happened in June. Trump said that very good GDP numbers would be announced soon, and some time later we saw Q1 GDP revised higher.
How to trade the news? The market has already priced in strong Non-Farm Payrolls data, and it means that USD may be overbought. If Friday brings lower than expected numbers, it will trigger broad based sell-off of the American currency.
Under such scenario, the current levels of EUR/USD look very attractive for bulls, and the next upside target is at 1.1410.