July 8th 2016: US On Stable Ground

• This morning, world markets are stable after reassuring a set of economic figures from the US last night. The US dollar is down slightly this morning, but the USD/JPY is continuing its downside trajectory.

• Both the euro and the pound are pushing higher against the dollar as the risk-off pressure eases.

• The New Zealand dollar continues to perform well, but the Australian dollar remains weighed down by the recent credit rating downgrade.

• Coming up today, we have the month’s main ticket – US Non-farm employment change at 13.30. At the same time, we get US unemployment numbers and average hourly earnings. Corresponding Canadian data is released at the same time.

Trade Idea: 

• The NZD/USD seems far removed from the Brexit problems and is putting some good sessions together. Further upside could be ahead.

• A good way to play this is a HIGHER trade predicting that the NZD/USD will close above 0.73 in 14 days time for a potential return of 115%.

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