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Ready for another employment report? This strategist has a trading plan.
It's been a while since the U.S. employment numbers were anything to cheer at, but Michelle Meyer, senior U.S. economist at Bank of America Merrill Lynch , thinks the latest report on nonfarm payrolls , due this Friday, could bring a shift.
"This is going to be a fairly clean read of the labor market, and that is why we actually think the jobs numbers could look a little bit better," she told CNBC's Melissa Lee . Meyer expects a 100,000 increase in nonfarm payrolls - "a slow trend, but not a collapse."
Amelia Bourdeau, director of foreign exchange at Westpac Institutional Bank, agrees that the payroll data could be encouraging, so for a trading playbook, she is looking at pairing the dollar against a risk-sensitive currency like the New Zealand dollar. page90nzd=xfalsetrue2pricetruefalsefalsefalse0QuotefalsetrueChartfalsetrueNewsfalsetrueProfilefalsetrueAdd to Watchlistfalsetruetruehttp://api-cdn.cnbc.com/api/chart/chart.aspGE4true3
If the employment report comes in around consensus forecasts or slightly higher, Bourdeau recommends buying the kiwi and selling the dollar, and if it's lower, she recommends the opposite position.
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