The commodity bloc seems to have some short-term upside momentum that could possibly carry the Aud and Kiwi to higher levels although selling into strength remains favoured for the longer term downtrend. WTI nicely held the neckline of the H/S formation today and has rallied 3%. Further short term gains seem possible. Yen strength looks set to continue,… Read More »
The table is not giving much of a clue today after a choppy but mostly sideways session although we may see some Yen strength and the same in Cable, suggesting shorts in both EurYen and EurGbp may be worth looking at. WTI still looks heavy, but hat aside we may be in for another sideways session, at least… Read More »
Things still look mostly rather mixed and a cautious stance is required. The US$ looks a little heavy against the EU majors, the Yen and the commodity bloc, while Sterling also appears to be gathering increased downside momentum. If the dollar does lose some ground, the metals may make further gains although WTI does appear to be under… Read More »
While Friday’s Non-farm payrolls rose by a less than expected 156K in December, the previous month’s figure was revised up from 178k to 204k. The headline unemployment rate rose to 4.7% as expected, while wages showed strong growth, with the average hourly earnings increasing by 0.4% m/m, above expectation of 0.3%. The AHE was the figure that traders… Read More »
Most markets look pretty mixed in the short term following Friday’s US jobs data although short term US$ strength looks possible today, but I would not be getting too carried away. Elsewhere the picture is mixed and we may be in for a choppy, but rangebound, session in most markets. The ASX as though it may have further… Read More »
The US$ is heavy at the end of Thursday trade after some mixed job data, which comes ahead of today’s monthly US employment report. The initial jobless claims dropped 28k to 235k in the week ended December 31, much lower than expectation of 260k, while on the other side of the coin the ADP jobs report grew… Read More »
The general theme looks to be one of continued US$ weakness, although with the US jobs data due today, a cautious outlook is required. Gold and Silver are looking a little more upbeat, while stocks appear rather undecided at current levels. EURUSD USDJPY GBPUSD USDCHF AUDUSD NZDUSD 1 Hour Up – Possible topping formation Down – Turning… Read More »
Once again, opportunities appear rather limited today as we await tomorrow’s NFP figure. The Euro, Yen and Aud may all have some minor upside potential although I would not be getting too excited. The ASX SPI also appears well underpinned, although I am wary of buying it at these levels, last seen 18 months ago.. EURUSD USDJPY… Read More »
The FOMC Minutes released Wednesday indicated almost unanimous agreement that economic growth could accelerate because of fiscal stimulus under the Trump administration and most Fed board members were eyeing faster interest rate increases. Beyond that though….
It has been a volatile session for the markets, with the US ISM data underpinning thoughts that the US economy is continuing its upwards trajectory, raising the possibility of another near-term rate hike…..