CME_MINI:NQU2023 - PR High: 15211.50 - PR Low: 15211.50 - NZ Spread: 38.75 Big open interest jump Discount brokers adjust margin req.: 08:30 – Average Hourly Earnings - Nonfarm Payrolls - Unemployment Rate 50% intraday retracement off RTH inventory - Holding daily range, half-back Evening Stats (As of 1:35 AM) - Weekend Gap: +0.09% (closed) - Session Open...
S&P 500 INDEX MODEL TRADING PLANS for FRI. 06/02 We started last trading week with our trading plans on Monday titled: "Debt Ceiling Deadline Likely to Whipsaw the Markets", and these words: "Expect the approaching debt ceiling deadline to attract both bulls and bears to heightened speculation, resulting in some whipsaw movements until the deadline passes and the...
We see Silver moving higher and continuing its recent uptrend from September lows just above $17 whilst it is above key support at around $21. However, we await key data releases such as the Q3 US GDP growth rate tomorrow and non-farm payrolls on Friday. This could indicate whether FED chair Powell will continue with aggressive rate hikes or increase market...
Following the payroll news on 06.08.2021 the US currency has gone bullish. Descending triangle formed on GU and broke and retested the neckline. Expect price to fall minimum to the 1.37700 area.
Gold has recently continued it's strong upward momentum over the past few months and we believe could challenge long term resistance at $1919 over the coming trading sessions. Additionally, there could significant price action tomorrow if the payroll number is considerably different than the 650K forecast. If the 50 day MA moves above the 200 day MA this would...
We still hold a neutral view on Silver and feel that non farm payrolls on Friday could trigger significant price action and enable us to form a directional view. The precious metal has failed to consolidate above resistance around $28 over continued fears of rising inflation and the possibility of the FED raising rates. Therefore a greater than expected payroll...
The Dax could move lower towards support around 14,000 as equities continue to look shaky over inflation fears and subsequent comments by Yellen that as a result rates may need to be raised sooner than previously anticipated by the market. Additionally, the RSI is at 65 indicating the index could start to become overbought as we await non farm payrolls on Friday,...
USDJPY has continued it's resurgence since the beginning of the year as prices have consolidated above resistance 106.72. This has predominantly been due to rising US treasury yields as we anticipate the currency pair potentially moving higher post non farm payrolls being released on Friday.
We see EURUSD moving lower pre key economic data releases this week including Euro Area Core Inflation Rate YoY and non farm payrolls. Additionally, the 20 day MA has dropped below the 50 day MA indicating a slowdown in the upward momentum the currency pair had gathered since March 20 lows.
The economic news this week is pretty much all bad, with payroll data, manufacturing data, and non-manufacturing data all showing a broad slowdown across the whole economy. The dollar is showing real weakness amidst the slowdown. Both the dollar's weakness and the return of fear to the economy should be good for gold. Here are the critical levels to watch in the...
As we head towards the weekly close, our focus will be on the Non-Farm Payrolls, and by extension, the yield-sensitive currency pair, the USD/JPY. After the drop back below 109.00, brought on by Monday’s announcement that US president Trump is to restore tariffs on steel and aluminium shipped from Brazil and Argentina, in addition to his administration proposing...
WTI Crude oil has been dropping but we do believe there is upside potential as long as the market is above the key support level at $50.55. This is due to the possibility that tensions in the Middle East worsen and there is a recovery in the global economy as payrolls today came in at 136K vs 145K expected whilst the August number was revised upwards by 38K.
USDJPY has held up at the key support level of 107.134 as equity markets have fallen in past couple days over poor global economic data in particular coming out of the US. Lower than expected US ISM Manufacturing and ADP employment change figures have led to odds of an October rate cut increasing therefore a weak payroll number which could put pressure on the US...
We still see EUR/USD moving lower despite some recent poor economic data coming out of the US which would indicate that the odds of a FED rate cut have increased. This week US ISM manufacturing and ADP employment change figures were weaker than expected which has put pressure on the US dollar but we see the downward trend for the currency pair continuing whilst...
As expected the RBA cut rates on Tuesday from 1% to 0.75% and indicated that it is open for further easing in future to boost the Australian economy leading to the currency pair breaching 0.67. We expect AUDUSD to keep dropping as equity markets fall on the back of weak recent global economic data whilst a stronger than expected payroll number Friday could provide...
By Andria Pichidi Yesterday’s contraction signal from the disappointing US Manufacturing PMI rekindled concerns about the fallout from ongoing geopolitical trade tensions, while this adds further pressure on the upcoming Jobs report on Friday. The reading was an indication that trade and tariff turmoil continues to cast a dark shadow over the global economy....
We still see USDJPY moving higher after it has broken above the 106.8 resistance level mainly we believe on the back of an easing of tensions in the US/China trade war. However, there could be a significant amount of price action post payrolls and average hourly earnings as weak data could indicate a higher probability of FED rate cuts.