Daily Alert – Thursday 2nd September: All eyes now on Non-Farm Payroll

Mark NugentDaily Alert, Sept 2021

Daily Alert – Thursday 2nd September: All eyes now on Non-Farm Payroll

Yesterday was quiet as sentiment became indecisive after Monday’s and Tuesday’s risk-on attitude.

OPEC+ ratified their previous decision to increase production by 400K barrels per day and there were no new calls for quota increases from any member country. Hurricane Ida left the Gulf of Mexico and production is restarting.

The markets are slightly worried now about tomorrow’s Non-Farm Payroll number after Wednesday’s early warning number from ADP showed a bad miss (374K vs expected 640K). In addition, tomorrow we see ISM Services PMI, the more important sister to Wednesday’s Manufacturing PMI. These two events combined have the potential to move the markets.

There were profitable trading opportunities this week on Japan225 and JPY/commodity currencies.

Tomorrow I will prepare your Performance Report for August and year-to-date.

I’ll be back on Monday with your Trading Plan for Week 36 a return to the more normal four-videos-per-week service.

Have a great weekend when it comes.

VIP Club members can see today’s video, all brief trading videos, the Monthly and YTD Performance videos, the Trading Video Course and download the MTM Indicators software HERE