8 Jan: Stocks soar, US$ mixed after Friday’s NFP. EU Sentix, Retail Sales in focus today.

By | January 8, 2018

 

The US$ was choppy, without too much directional movement on Friday, while stocks finished their best week in over a year following the mixed US employment report. The NFP only increased by 148,000 jobs last month despite forecasts of gains of 190,000, while the figures for October and November were revised down, showing  9,000 fewer jobs created than previously reported. On the other hand, the average hourly earnings climbed by 9 cents, or 0.3% in December after gaining 0.1 % in November, lifting the annual increase in wages to 2.5% from 2.4%. The headline unemployment number remained unchanged at 4.1%. The commodity bloc currencies remained firm against the US$, while the Yen was weak through the whole of the Friday session, again under pressure while being used as a funding currency as long as risk sentiment remains intact, while the EU majors were relatively unchanged in choppy trade.

The coming week will be busy throughout, but mostly with secondary data. Highlights will include the EU Sentix Investor Confidence Survey (Monday), German Trade Balance, Current Account, and Industrial Production and EU Unemployment (Tue), China CPI, UK Manufacturing/Industrial Production (Wed), Australian Retail Sales, EU Non-Monetary Policy Meeting Minutes and US PPI (Thur) and finally, the busiest session of the week, which will feature the China Retail Sales and Trade Balance and, late in the day, the US Retail Sales and CPI (Fri). Have a good one.

CURRENCIES
EURUSD: 1.2029
Res  1.2060  1.2090  1.2120
Sup  1.2020  1.2000  1.1980
USDJPY: 113.06
Res  113.30  113.45  113.65
Sup  112.85  112.65  112.50
GBPUSD: 1.3565
Res  1.3585  1.3615  1.3635
Sup  1.3545  1.3525  1.3495
USDCHF: 0.9746
Res  0.9770  0.9785  0.9800
Sup  0.9735  0.9715  0.9700
AUDUSD: 0.7862
Res  0.7875  0.7885  0.7900
Sup  0.7845  0.7830  0.7815
NZDUSD: 0.7167
Res  0.7185  0.7215  0.7245
Sup  0.7145  0.7125  0.7105
INDICES / COMMODITIES
S&P: 2742
Res  2745  2755  2765
Sup  2735  2725  2715
DJI: 25280
Res  25300  25350  25400
Sup  25230  25180  25120
ASX SPI: 6095
Res  6105  6120  6150
Sup  6080  6065  6050
XAUUSD: 1319
Res  1325  1330  1335
Sup  1315  1310  1305
XAGUSD: 17.20
Res  17.30  17.40  17.50
Sup  17.10  17.00  16.90
WTI: 61.54
Res  62.20  62.55  63.00
Sup  61.05  60.70  60.00