7 Aug: Good US jobs data, Friday, allows the dollar a reprieve. Australian Job Ads, EU Sentix coming up today.

By | August 7, 2017

 

The US$ recovered some of its recent lost ground on Friday following the release of the US Jobs data, showing that the July non-farm payroll  grew by 209k, above expectation of 180k, while the previous month’s figure was revised up to 231k, from 222k. The headline unemployment rate dropped by 0.1% to 4.3%, a 16 year low. The participation rate also rose, to 62.9%, up from 62.8%, while the average hourly earnings rose 0.3% mom, in line with expectations. Also released from the US, trade deficit narrowed notably to USD -43.6b in June, from USD -46.4b in May. While the dollar was able to make some gains, the metals came under some downside pressure and stocks remained rangebound. Oil saw a recovery, with WTI closing at session highs and looking as though it is ready to take another look at 50.00pb although the OPEC Meeting begins today and direction will depend on headlines coming from that.

The coming week’s will have a steady data download throughout, beginning today with the Australian Construction Index and the ANZ Job Ads, to be followed in Europe by the German Industrial Production and the EU Sentix Investor Confidence Survey, but with little to come from the US. Other highlights during the week will be the China Trade Balance (Tue), China CPI/PPI and the UK Inflation Report Hearing (Wed), the RBNZ Meeting and UK Manufacturing data (Thur), and finally the German CPI and US CPI (Fri). Have a good week.

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: 1.1772
Res  1.1815  1.1850  1.1890
Sup  1.1725  1.1685  1.1650
USDJPY: 110.67
Res  110.80  111.05  111.25
Sup  110.50  110.25  110.00
GBPUSD: 1.3035
Res  1.3055  1.3095  1.3115
Sup  1.3000  1.2955  1.2925
USDCHF: 0.9728
Res  0.9745  0.9765  0.9780
Sup  0.9700  0.9685  0.9670
AUDUSD: 0.7928
Res  0.7950  0.7965  0.7980
Sup  0.7915  0.7890  0.7875
NZDUSD: 0.7413
Res  0.7450  0.7465  0.7475
Sup  0.7390  0.7370  0.7345
INDICES / COMMODITIES
S&P: 2471
Res  2475  2480  2490
Sup  2465  2460  2455
DJI: 22017
Res  22045  22100  22150
Sup  21960  21920  21880
ASX SPI: 5683
Res  5685  5700  5725
Sup  5665  5650  5640
XAUUSD: 1259
Res  1260  1265  1270
Sup  1255  1250  1245
XAGUSD: 16.23
Res  16.45  16.60  16.75
Sup  16.20  16.00  15.80
WTI: 49.49
Res  49.90  50.40  50.80
Sup  49.00  48.50  47.85