The Forex market is more risk-on compared to the previous days, hence the US dollar has given up some of its positions.
Trading plan for March 8
Information is not investment advice
Markets are waiting for the NFP release (15:30 MT time). The forecast is weak. As a result, the USD has been suffering ahead of the event. However, the situation may differ if the actual data is greater than the forecast. It's not a secret that the American jobs release will cause high volatility on markets. Be careful!
Canadian jobs data is also in the economic calendar. The time of the release is similar to the American one. Not a good idea to trade USD/CAD but you can consider other currency pairs such as CAD/JPY.
The market sentiment is risk on today. It’s based on recovery dynamics and potential drug developments. Nevertheless, tensions between the USA and China remain in focus.
How to enter the market in trend and in correction? We are discovering all of that and much more in this webinar.