Although i generally like to stay away from the AUD vs most currencies i am very tempted to go short on the AUD starting at 1.0250 all the way up to 1.0359.
Definitly think there is potential there for a short however, will obviously not enter any trade until after the Non farm employment change as this would not fit my risk strategy (i tend to think trading the news before the announcement is gambling, although you can infer if the data is going to be higher or lower).
Data has been better from the US this lately and in tonights case, i think we will see a figure higher (whether marginally or by alot remains) then forecast even though January is considered a 'slow' month... Although i am prepared to type this i WILL NOT be trading the news and am not recommending any trader to do so...
IF we do see stronger figures tonight the USD will become stronger against most majors however, it is likely the share markets will also perform well countering the USD strength slightly. Interesting night ahead (again).
My main concern with the AUD right now is the strength of commodities which i believe is assisting the AUD rise.
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