4 Jan: US$ underpinned by solid data, FOMC Minutes. ADP in focus ahead of tomorrows US jobs data.

By | January 4, 2018

 

The US$ has regained some of its recent lost ground on Wednesday after some decent manufacturing and construction data, seen in the ISM, in another sign of strong economic momentum at the end of 2017. The dollar then received further support following the release of the FOMC Minutes, which underlined the likelihood of a continued gradual rate climb through 2018. Commodity currencies have maintained their ground but the Euro and Sterling have both given back some of their previous gains in what has been a relatively choppy but steady session for the currency markets. The biggest moves of the day were in the stock markets, which has seen the indices make new all time highs, led by the tech sector, and in oil which rallied by 2%, underpinned by the tensions in Iran.

Thursday will kick-off with the Australian and the Caixin China Services PMIs, and will be followed by those (+Composite) from the EU and the US. Also on the agenda today will be the UK Mortgage Approvals, Net Lending to Individuals and Consumer Credit (Nov). From the US we get the ADP Jobs data (exp +190) ahead of tomorrow’s Unemployment (exp 4.1%)/NFP (exp +189)/Average Hourly Earnings (exp +0.3%) data. Have a good day.

CURRENCIES
EURUSD: 1.2011
Res  1.2040  1.2065  1.2080
Sup  1.2000  1.1980  1.1955
USDJPY: 112.45
Res  112.60  112.80  113.00
Sup  112.25  112.05  111.90
GBPUSD: 1.3509
Res  1.3540  1.3580  1.3610
Sup  1.3495  1.3470  1.3430
USDCHF: 0.9771
Res  0.9795  0.9815  0.9840
Sup  0.9750  0.9730  0.9700
AUDUSD: 0.7840
Res  0.7845  0.7865  0.7885
Sup  0.7825  0.7805  0.7780
NZDUSD: 0.7097
Res  0.7110  0.7130  0.7165
Sup  0.7090  0.7070  0.7055
INDICES / COMMODITIES
S&P: 2712
Res  2715  2720  2725
Sup  2705  2700  2695
DJI: 24888
Res  24920  25000  25100
Sup  24850  24790  24750
ASX SPI: 6057
Res  6060  6080  6100
Sup  6035  6015  6000
XAUUSD: 1315
Res  1320  1325  1330
Sup  1310  1305  1300
XAGUSD: 17.15
Res  17.25  17.30  17.40
Sup  17.10  17.00  16.90
WTI: 61.75
Res  62.00  62.55  63.00
Sup  60.80  60.00  59.25