Friday Trades: EUR/USD, USD/JPY, and Gold
The overall market sentiment is risk-on. The S&P 500 index (US 500) is getting close to the all-time high. Oil is recovering quickly from its recent losses.
Trade the USD on an important release
The United States will release the non-farm employment change, also known as non-farm payrolls or NFP at 15:30 MT time on December 7.
The NFP is considered the leading indicator of consumer spending, which represents the economic activity of the country. Last time the indicator came out higher than expected, which resulted in rise of the USD. If it happens again, the USD will be supported.
• If the NFP is higher than expected, the USD will rise.
• If the NFP is lower than expected, the USD will fall.
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