3 Aug: US$ mixed after ADP jobs data fails to meet expectations. BOE Meeting, Services PMIs in focus today

By | August 3, 2017

 

Currency markets are more or less unchanged today although it has been a volatile session, with both Cable and the Euro making new multi-year highs before heading back to pretty much near where they started the day. The main interest was in the DJ, which cracked 22,000, boosted by Apple shares and assisted by doubts as to whether the Fed will be able to raise rates again this year, after the ADP jobs numbers failed to meet expectations, coming in at 179K, as opposed to the expected 190K. Various Fed speakers have given mixed messages as to the chances of an impending rate hike although these have been generally brushed off and traders will now await the official US jobs data, due on Friday.

The BOE Meeting/Statement/Minutes/Vote Count/APP Facility will be the main event on Thursday, leaving plenty of opportunity for some decent volatility in Sterling.  Elsewhere, it will be the Services and Composite PMIs that will be in focus, beginning with the Caixin China figure. The US will have a bunch of secondary data; Factory Orders, PMIs, Jobless Claims although most of the focus will be on tomorrow’s NFP release. The NZ Trade Balance is due shortly.

The levels in this table are a guide only. For more in depth analysis please go the “Articles” tab at the top of the page and scroll down.

CURRENCIES
EURUSD: 1.1855
Res  1.1885  1.1910  1.1950
Sup  1.1815  1.1785  1.1750
USDJPY: 110.67
Res  110.95  111.25  111.40
Sup  110.50  110.25  110.00
GBPUSD: 1.3223
Res  1.3255  1.3300  1.3335
Sup  1.3190  1.3160  1.3120
USDCHF: 0.9702
Res  0.9725  0.9745  0.9770
Sup  0.9675  0.9630  0.9595
AUDUSD: 0.7966
Res  0.8000  0.8040  0.8065
Sup  0.7940  0.7915  0.7890
NZDUSD: 0.7429
Res  0.7450  0.7465  0.7475
Sup  0.7410  0.7395  0.7380
INDICES / COMMODITIES
S&P: 2473
Res  2480  2485  2490
Sup  2465  2460  2455
DJI: 21964
Res  21990  22050  22100
Sup  21880  21810  21745
ASX SPI: 5691
Res  5710  5730  5745
Sup  5675  5660  5645
XAUUSD: 1266
Res  1270  1275  1280
Sup  1260  1265  1255
XAGUSD: 16.54
Res  16.70  16.80  16.90
Sup  16.45  16.35  16.25
WTI: 49.58
Res  49.65  50.05  50.45
Sup  49.00  48.30  47.70