TGI-F!
Asian equities traded lower overnight, after a less than extensive package of measures from Draghi that did not include additional QE Measures. Furthermore, Draghi is facing increasing opposition by Weidmann & co. There really is no favourable risk-reward to be seen in the Euro pairs today after that move. Some traders I speak to are already thinking about closing the books until 2016. After all, Draghi is dovish in any case, whereas Yellen is going to raise rates in any case. So there really isn't much uncertainty left to trade into year-end. NFP could very well be the last nail in the coffin, especially if we get a miss.
Looking forward: today's highlight will be NFP of course, but don't forget the OPEC meeting in Vienna. Pressure is growing on OPEC to reduce production and support oil prices, but as P.T. Jones said back in the 80's: "when you get 12 men in a room from different backgrounds and with different agendas, it's pretty tough to expect some kind of agreement". After the EU close we also have Draghi speaking in New York, Bullard and Kocherlakota speaking in Philadelphia.
No charts for today...not really inclined to participate in this environment but risk-seekers can look for the calmer trending waters on Kiwi & Aussie today maybe.
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