SaxoTV

ECB fallout and NFP nerves - why the market is jittery

541 views
September 04, 2015 dollar, dollar euro, dollar index, dollar outlook, dollar rise, dollar strength, dollar trading, dollars, draghi, draghi ecb, draghi ecb comments, draghi options, draghi reaction, ecb, ecb action, ecb draghi, ecb euro, ecb meeting, ecb news, ecb policies, ecb policy, ecb president, ecb qe, ecb rate, ecb rate decision, ecb rates, ecb rates decision, ecb stress, employment, employment rate, employment report, eur, eur usd, euro, euro area, euro dollar, euro zone, eurodebt, eurodollar, europe, european, european central bank, european central banks, european economy, european union, eurozone, eurozone crisis, eurozone economy, eurozone euro, eurozone recovery, eurusd, greenback, jobgrowth, jobless data, jobs, jobs data, jobs figure, jobs growth, jobs market, jobs rate, mario draghi, non farm, non farm payrolls, non farm payrolls data, non farms, non-farm, non-farm payrolls, non-farmpayrolls, non-farms, nonfarm, nonfarm payroll data, nonfarm payrolls, nonfarmpayroll, nonfarmpayrolls, nonfarms, saxo, saxo bank, saxo tv, trading, tradingfloor, tradingfloor.com, us data, us debt, us dollar, us dollar bulls, us dollar index, us dollar rally, us dollar rates, us dollar rise, usd, usd eur, usd index, usdjpy
The dovish comments on Thursday from Mario Draghi, president of the European Central Bank, saw heavy euro selling and increased risk sentiment. But in the late US and Asian sessions, Saxo's John Hardy says there was very weak risk sentiment. He says this could be a warning sign that there will be another round of deleveraging.

John says risk sentiment is key here in addition to the jobs' report that is published later this Friday. If there's weak risk sentiment and disappointing non farms' data, USDJPY will become the focus. Strong NFPs could see risk sentiment up and could be positive for the US dollar, he says.  He warns that this is a nervous market with the potential for volatility.

John discusses key levels in both USDJPY and EURUSD.