Although markets in Europe were closed for May Day, currency flows are being driven by the U.S. dollar and risk appetite this morning. U.S. yields are a bit firmer this morning thanks to the U.S. government’s deal to avoid a shutdown.

The main focus this week will be the FOMC meeting and non-farm payrolls but there’s also the RBA rate decision, UK PMIs and CAD data to contend with. Today the focus will be on the dollar and given weak retail sales and soft average hourly earnings, the risk is to the downside for today’s report. Commodity currencies are also recovering and we are looking to buy NZD.

*The MAIN THEMES I see today are*

AUD and NZD recovery

*Currencies we plan on day trading and the direction*
*These could change during the day, but for now

We will be trading around these themes —

+NZD, +AUD

*Trading Biases*
These will change after US data

Neutral EUR
+NZD, +AUD, +JPY
Slightly -GBP, -USD
-CAD

:triangular_flag_on_post: *Starting Trades*

OPENED AT MARKET NZDUSD Buy
ENTRY — 0.68878
STOP — 0.68378
TAKE PROFIT — 0.69178

NEW ORDER PENDING
NZDCHF Buy-limit 0.6841
STOP 0.6791
TAKE PROFIT 0.6871