The S&P500 has hit another all-time high and the Yen has edged a bit lower which helped to trigger a couple of new breakouts. However, much of the Forex landscape remains fairly subdued ahead of Friday’s key US jobs report and there are revised trend lines to monitor for this event.
The release of private US jobs data last session triggered a bit of market movement and could be a window into what might be ahead for Friday’s US NFP release. The private ADP jobs report revealed fewer jobs were gained which, rather surprisingly, helped to lift the US$. I would have thought this would weaken […]
US stocks remain supported but there has been little movement across most Forex pairs. I am wondering if this crawl might remain until Friday’s NFP?
The uncertainty seen last week with the many indecision weekly candles has featured again to start this week. There hasn’t been a lot of change and the ASX-200 and AUD pairs will be in focus today with the RBA rate update.
The US$ moved lower again last session and is shaping up to print a bearish monthly candle. This shift has helped to develop the bullish-reversal descending wedge on the EUR/USD as well as to support Gold and the commodity currencies. Watch today for any end of month flows.