NFP:
Initial reaction: 
- If NFP &gt; 3m and Unemployment &lt; 12.3%, stocks up, USD down. 
- If NFP &lt; 3m and Unemployment &gt; 12.3%, stocks down, USD up.
Delayed reaction:
- Nuanced. Requires analysis of core vs temporary unemployment. Will take time to feed through. 
#NFP $SPX #USD