USD index 10 05 2021

With NFP missing expectations significantly on Friday the focus this week will I’ll be watching for is the:

  • US 10 Year Note Auction coming out at 01:00 Thursday GMT+8 time zone.
  • US CORE CPI (MoM)
  • US CPI (Mom) both out at 20:30 Wednesday GMT+8.

I will be waiting to see the release of this data before making a trade on the USD index, as the miss on the NFP was attributed to worse than expected job creation such as generous unemployment benefits. Therefore I’d like to see the market provided with more information before taking a trade. As this could be a small blip in the long thesis on the US index currently price is close to a support level and will let the data be released to see if the economy is picking up to pre Covid levels quicker than the Federal Reserve anticipates leading to higher inflation before first planned for.

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By Scott Andrews

Scott Andrews is an Australian based trend and swing trader using the daily, 4 hour and 1 hour time frames. He has previously worked in China as a performance coach for their Winter Olympic Team at the time refining his trading skillset. and runs a YouTube channel discussing his thoughts on markets as well as being the Account Manager (Australia) for ForexBriefcase. Recently Scott took on the role as Trading Coach for LCMS Traders.

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