All about the Fed

“If you want to know what a man is really like, take notice of how he acts when he loses money.” – Simone Weil

In today’s session we will continue to discuss and map out what the Friday NFP print likely means for action into the end of the month and the next FOMC. All things being equal, expectation would be for a short-term top in Bonds/Gold and therefore low in DXY. We continue to believe that July will offer plenty of opportunity both from an intraday and swing perspective.
Today’s we will also review our tactical road-map and bigger picture outlook for the rest of the year too.
We can’t stress enough how important it is to focus on all of the FOMC Member speeches coming up into the next meeting. AS discussed already, it’s all and only about FED action on rates and what the market is pricing. Add all the jawboning from Trump on the FED and the USD and we have all the ingredients for plenty of volatility but more importantly, key opportunities for those that can stay focused and mechanically execute.
Since Friday was effectively a holiday, remember that today is the first proper day of trading post the NFP print, so it will be very interesting to see what moves actually stick into end of day.
Note for active 50Scouts members: *make sure you read out latest update* and keep an eye on your inbox for a free pass to Friday’s daily webinar session (make sure to check your spam folder too).
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For newer readers, it’s always worth catching up on our Trading Reflections post.
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Wishing you a great day ahead.

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