Macro Strategist, Saxo Capital Markets

Kay Van-Petersen

Macro Strategist

Saxo Capital Markets

Event-Driven

iShares MSCI Global Min Vol Factor ETF / Event-Driven

iShares MSCI Global Min Vol Factor ETF (ACWV US)

DXY is dwn -3.8% over the past 3wks&nbsp;with bearish sentiment returning post NFP miss &ndash; will the Fed wed mins&nbsp;curb or accelerate sentiment?I expect the RBA to cut at tmr's meeting, risk is to the upside, I'd be tactically on any squeezes (jump on trades) &amp; look to position for further downside - because THEY WILL cut either tmr or on May 5Market read should be risk-on for most equities (ex. Japan), as non-farm payroll miss will in the near term be interpreted as delayed to no Fed hike in &nbsp;2015. Yield compression theme, stuck in a loopMost mkts still out today due&nbsp;to Easter Monday &amp; others national holidays&nbsp;

DXY is dwn -3.8% over the past 3wks&nbsp;with bearish sentiment returning post NFP miss &ndash; will the Fed wed mins&nbsp;curb or accelerate sentiment?I expect the RBA to cut at tmr's meeting, risk is to the upside, I'd be tactically on any squeezes (jump on trades) &amp; look to position for further downside - because THEY WILL cut either tmr or on May 5Market read should be risk-on for most equities (ex. Japan), as non-farm payroll miss will in the near term be interpreted as delayed to no Fed hike in &nbsp;2015. Yield compression theme, stuck in a loopMost mkts still out today due&nbsp;to Easter Monday &amp; others national holidays&nbsp;

KVP'S MACRO TAKE: NFP COULD SPELL MORE PAIN FOR USD, MEANWHILE WATCH THE RBA CUT ON TUE APR 7