Originally Posted by symonds

Low expectations could be good for the dollar. We have already seen that the market is kind of growing numb to disappointing US data .However, employment is still a big concern for growth - if the consumer withdrawals their support to growth, the chances of a recession will likely be much greater than 75% - depending on what other sectors step in by then.

I don't have any dollar exposure going into this NFP event risk, but I have USDCAD levels that may draw me into a trade should they be broken. A confirmed higher time-frame bar (4 hr, 8 hr, daily) could encourage a small short position that I would build as it went down. I am cautious of a bounce from 0.97. I'd rather trade to the long side on a break above 0.9964 or 1.0180.