The US monthly jobs report is not released until Friday but the ADP private sector report released last session showed a significant decline and this has resulted in a weaker US$. This shift helped to boost the commodity currencies and develop the descending wedge b/o on the EUR/USD. Caution is needed ahead of Friday’s NFP […]
There has not been much movement again as the end of month ticked over and as markets wait for Friday’s US monthly jobs report. The commodity currencies are holding up quite well; all things considered. The ASX-200 and AUD pairs will be in focus today with the release of Australian GDP data.
Australia closed its international borders due to Covid-19 back in March 2020. Although more than half the population of the country is currently in a Covid-induced lock-down, the political conversation has shifted to issues surrounding the reopening of our state and international borders. This dialogue is very new but it was enough to prompt me […]
The S&P500 and NASDAQ have closed at new all time Highs ahead of the end-of-month and end of northern summer doldrums period. Monday of next week is a holiday in the USA (Labor Day) and is often ear-marked as the period when markets ‘wake up’ after the northern hemisphere summer. Most charts are little changed […]
Last week: I had warned last week that ‘One Swallow does not a Summer Make‘ and this proved to be rather prudent. Despite the fact that this market rally has extended for 18-months and knowing that trend lines don’t travel in straight lines unabated, the US stock index majors continue to hold above long-term support trend […]