Mid Week Market Update

The FOMC today will pay little attention to today’s worse than expected ADP number, but traders will be positioning themselves now for a disappointing NFP number. If the jobs data doesn’t pick up soon, and we have a Fed determined to rapidly reduce their balance sheet, whilst raising rates, the market’s fear of a recessionary period will no doubt come to fruition. For now, we’re just waiting to see what they discuss, and what decisions they make with regards to the Feds balance sheet and rate hike cycle. 

For more trading details, please check the hyperlinks with time stamp indicated from the video:

3:50 US DOLLAR INDEX

4:58 NASDAQ

8:06 S&P 500

10:14 GOLD

11:14 BRENT

12:11 USD/JPY