Category: Market Trends

Considered one of the most important employment and economic strength indicators, nonfarm payrolls will be reported at the end of this week for May 2017. The US Bureau of Labor Statistics will release the monthly data on Friday 2nd June 2017 8:30 a.m. EDT as part of its monthly Employment Situation Report.  The Non-farms figure specifically provides the change in the total number of nonfarm payrolls compared to the previous month – representing all jobs except those related to farm work, unincorporated self-employment, and employment by private households, the military…

Read More

A US dollar rally that never materialize and a Canadian dollar strength due to increasing oil prices were the main trends for last Friday 5th May 2017. US dollar The change for Non-farm payrolls for the month of April 2017 was 211,000 versus an estimate of 185,000, a strong sign that US economy is growing at least for the labor market and there are employment and potential inflation pressures. Change in Private Payrolls was also good with a reading of 194,000 versus estimate of 190,000. The unemployment rate for the…

Read More

The euro dropped 8% in the two months following Donald Trump’s surprise victory. Investors were optimistic that he would pass his campaign promises of tax cuts and infrastructure spending given the Republican Congress and Trump’s popularity within the Republican party. They poured into the dollar and US stocks in anticipation of an acceleration in growth. The euro has clawed back half of these losses as significant legislation has failed to materialize, and US economic figures have disappointed with first quarter GDP downgraded from 3% to 0.5% over the last three…

Read More

The US Dollar (USD) inched higher against the Japanese Yen (JPY) on Wednesday, increasing the price of USD/JPY to more than 110.50 ahead of the US ADP Employment Change news. The technical bias remains bullish because of a higher high in the recent upside move. Report to be released today at 12:15 GMT How to Trade today’s ADP Employment Change Data? Buying the USD/JPY call options may be a good strategy if the ADP employment change date comes better than forecast. Alternatively, buying the USD/JPY put options may also be…

Read More

Gold inched higher on Wednesday, increasing the price of yellow metal to more than $1200.00 an ounce ahead of the US monetary policy announcement. The technical bias remains bullish because of a higher low in the recent downside move. US Monetary Policy Announcement The Federal Reserve is scheduled to announce its monetary policy today during the US trading session (18:00 GMT). According to the average forecast of different economists, the central bank is likely to increase its benchmark interest rate by 0.25% to 1.00% for the third time since the…

Read More

The US Dollar (USD) fell against the Canadian Dollar (USD) on Tuesday, decreasing the price of USD/CAD to less than 1.3400 ahead of the Canada’s Ivey Purchasing Managers Index (PMI) news release. The technical bias remains bullish because of a higher high in the recent upside move. Technical Analysis As of this writing, the pair is being traded around 1.3394. A support may be seen near 1.3282, the 50% fib level support area as demonstrated in the given below daily chart. A break and daily closing below the 1.3282 support…

Read More

The US Dollar (USD) extended downside movement against the Japanese Yen (JPY) on Wednesday, dragging the price of USD/JPY to less than 113.75 ahead of the US ADP Employment Change news. The technical bias remains bullish because of a higher low in the recent downside move. Technical Analysis As of this writing, the pair is being traded around 113.65. A support may be seen near 112.51, the trendline support area ahead of 112.00, the psychological number and then 109.97, the downward trendline as demonstrated in the given below daily chart…

Read More

The Euro (EUR) extended its losing streak against the US Dollar (USD) on Wednesday, dragging the price of EUR/USD to less than 1.0600 ahead of the Germany’s unemployment and manufacturing news releases. The technical bias remains bearish because of a lower high in the recent upside rally. Germany Unemployment & Manufacturing Data The Bundesagentur für Arbeit of Germany was scheduled to release the unemployment figure today. According to the average forecast of different economists, the unemployment in Germany registered a 10k decline during the month of February as compared to 26k…

Read More

The Euro (EUR) inched lower against the US Dollar (USD) on Wednesday, dragging the price of EUR/USD to less than 1.0600 ahead of the Eurozone Consumer Price Index (CPI) news release. The technical bias remains bearish because of a lower high in the recent upside rally. Technical Analysis As of this writing, the pair is being traded around 1.0543. A support may be seen near 1.0484, the trendline support area as demonstrated in the given below daily chart with pink color. A break and daily closing below the 1.0484 trendline…

Read More

3 Assets to Watch This Week • Tesla: Tesla, Inc. is expected to report earnings this Wednesday after market close. Tesla shares are up over 50% in the last three months; • S&P 500: S&P 500 inched ahead to record highs on Friday. It marks the fourth straight week of gains for the Standard & Poor’s 500 index, its longest such streak since July 2016; • Dow: the Dow Jones Industrial Average almost reached a seventh straight record high on Friday. See below how its monthly growth looks on our…

Read More

The US Dollar (USD) inched higher against the Japanese Yen (JPY) on Wednesday, increasing the price of USDJPY to more than 114.25 ahead of several high profile fundamental events. The technical bias remains bullish as the price continues trading in an upward slope channel. Technical Analysis As of this writing, the pair is being traded around 114.36. A hurdle may be noted near 114.48, the immediate trendline resistance area ahead of 115.37, the high of January 27th, 2017 as demonstrated in the given below chart. A break and four-hour closing…

Read More