What is moving markets September 6th 2024 ? (and some advice)

1. Yesterday I saw a discussion over whether you should trade today's NFP or other financial high impact news. The resounding answer from the retail community was no, I agree with that for retail traders with one caveat; if you don't have an edge don't trade. Sometimes we would post the risk reward is on xyz side and we would take a trade into NFP or FOMC etc, but today we see none and stand aside.

2. Former US official accuses China of undercounting its trade surplus with the rest of the world, stating its trying to hide the export imbalance (this comes as Xi visits various African countries and promises to rectify trade somewhat and promise more aid).

3. NFP ! What we are all waiting for. We can safely say that this month coming from summer we are seeing a slowdown in hiring as highlighted in the Beige book, but the US economy is still chugging along. The Fed path of rate cuts is set so this is going to be a meaningless exercise in the grand scheme of things. Where the next trade lies for us in relation to the NFP is did we learn anything new, is market positioned for that scenario?
   

4. IWM looks like an interesting play from 208 gap fill level (NFP would have to be very bad to not see a bounce from that level for a swing trade), we still favour AUDUSD longs but have to wait a bit for NFP. Enough freeness! Do enjoy and trade safely. You can see the setup here:

   https://www.tiktok.com/@ourinterest/video/7411476247722642720?is_from_webapp=1&sender_device=pc&web_id=7312068167056279073 What is moving markets (WIMM ) is meant to be a summary of what is likely to move markets in the day/s ahead provided by the OurInterest prop firm for our current and hopefully future traders. We provide mentorship, training and premium analysis of the markets for beginner trader and more experienced traders.